ForumIAS announcing GS Foundation Program for UPSC CSE 2025-26 from 19 April. Click Here for more information.
ForumIAS Answer Writing Focus Group (AWFG) for Mains 2024 commencing from 24th June 2024. The Entrance Test for the program will be held on 28th April 2024 at 9 AM. To know more about the program visit: https://forumias.com/blog/awfg2024
News: Reserve Bank of India(RBI) has created a Payment Infrastructure Development Fund of Rs 500 crores.
Facts:
- Aim: To encourage the deployment of Points of Sale(PoS) infrastructure both physical and digital modes in smaller cities, towns and north eastern states.
- Contribution: RBI will make an initial contribution of Rs 250 crore to the fund. The remaining contribution will come from card-issuing banks and card networks operating in the country.
- Nodal Department: The fund will be governed by an advisory council and administered by the RBI.
