ForumIAS LATEST
- 22 July | How AIR 333 Cleared UPSC in the First Attempt | Click Here to Watch →
- 22 July | From 3 Prelims Failures to AIR 125 by Sai Krishna's UPSC Journey | Click Here to Watch →
- 22 July | Basics vs Value Addition: What Matters More in UPSC? | Click Here to Watch →
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.
