RBI included PM Vishwakarma in PIDF, scheme got extension of two years – Dainik Savera Times

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New Delhi: Reserve Bank of India Governor Shaktikanta Das on Friday said it has been decided to include PM Vishwakarma under the Payment Infrastructure Development Fund (PIDF) scheme and extend the scheme by two years. Announcing the bi-monthly monetary policy, the Governor said that it is now proposed to extend the PIDF scheme for a period of two years i.e. till December 31, 2025. The scheme was launched in January, 2021.

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The scheme is aimed at accepting payments through Point of Sale (POS), Quick Response (QR) codes in small and sparsely populated urban areas (Tier-3 to Tier-6), North-Eastern States and Union Territories like Jammu and Kashmir and Ladakh. To establish access to the infrastructure. Under the original plan, the PIDF scheme was extended for three years till December, 2023. Governor Das said that the beneficiaries of PM Swanidhi Scheme in Tier-1 and Tier-2 areas were included in the PIDF scheme in August, 2021.

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More than 2.66 crore new ‘touch points’ have been deployed under the scheme by the end of August, 2023. “Now there is a proposal to extend the PIDF scheme for two years i.e. till December 31, 2025,” Das said. Also, there is a proposal to include the beneficiaries of PM Vishwakarma Yojana in all the centers under the PIDF scheme. Das said this decision to expand the targeted beneficiaries under the PIDF scheme will boost the Reserve Bank’s efforts towards promoting digital transactions at the grassroots level.

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“Based on the feedback received from the industry, it is proposed to incentivize the deployment of emerging methods of payment acceptance, such as soundbox devices and Aadhaar-enabled biometric devices, under the PIDF scheme,” he said. This is expected to further accelerate the deployment of payments infrastructure in targeted geographical areas.” Das said that information regarding these amendments will be given soon. Prime Minister Narendra Modi had launched PM Vishwakarma Yojana last month. In this, there is a proposal to give subsidy of up to eight percent on loans given to artisans. This scheme provides loans up to Rs 3 lakh to artisans at a very affordable interest rate of five percent without any guarantee.

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