Current Affairs - National - Discussion

Discussion :: National - Latest Current Affairs (Q.No.1006)

1006. 

In order to encourage the deployment of Points of Sale infrastructure in smaller cities and towns, RBI has initiated with how much Payments Infrastructure Development Fund?

[A]. Rs 200-crore
[B]. Rs 500-crore
[C]. Rs 300-crore
[D]. Rs 400-crore

Answer: Option B

Explanation:

In order to encourage the deployment of Points of Sale infrastructure in smaller cities and towns, the Reserve Bank of India has initiated with Rs 500-crore Payments Infrastructure Development Fund (PIDF with an initial contribution of Rs 250 crore . The remaining amount will be contributed by card issuing banks and card networks working in the country.

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