RBI extends PIDF scheme tenure by two years, adds PM Vishwakarma beneficiaries

The Reserve Bank of India (RBI) governor Shaktikanta Das as additional measures has announced the extension of Payment Infrastructure Development Fund (PIDF) Scheme by two years and the inclusion of PM Vishwakarma Scheme benefices in it.

The Reserve Bank of India (RBI) governor Shaktikanta Das has announced the extension of Payment Infrastructure Development Fund (PIDF) scheme by two years and the inclusion of PM Vishwakarma Scheme benefices in it.

“Since its launch in January 2021, the PIDF Scheme has enabled over 2.66 crore new payment touch points across the country. It has been decided to extend the scheme by two years, i.e., up to December 31, 2025,” he said.

“The coverage of PIDF scheme is also being expanded to include the beneficiaries of PM Vishwakarma Scheme; and to deploy emerging modes of payment acceptance, such as soundbox and Aadhaar-enabled biometric payment acceptance devices. These measures will further accelerate the Reserve Bank’s efforts to promote digital payments at the grass root level,” Mr. Das added.

Commenting on this, State Bank of India (SBI) chairman Dinesh Khara said, “The inclusion of PM Vishwakarma Scheme in PIDF will enhance market breadth and depth benefiting small scale artisans.”