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Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):
1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.
2. Half of the fund corpus is being provided by the Reserve Bank of India.
Which of the statements given above is/are correct?
1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.
2. Half of the fund corpus is being provided by the Reserve Bank of India.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements with reference to Payments Infrastru...
- Over the years, the payments ecosystem in the country has evolved with a wide range of options such as bank accounts, mobile phones, cards, etc. To provide further fillip to the digitization of payment systems, it is necessary to give impetus to acceptance infrastructure across the country, more so in underserved areas.
- Recently, Reserve Bank of India announced the creation of a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centers and northeastern states. Hence statement 1 is correct.
- The Reserve Bank will make an initial contribution of ?250 crores to the PIDF covering half the fund and the remaining contribution will be from card-issuing banks and card networks operating in the country. The PIDF will also receive recurring contributions to cover operational expenses from card-issuing banks and card networks. The Reserve Bank will also contribute to yearly shortfalls, if necessary. Hence statement 2 is correct.
- The PIDF will be governed through an Advisory Council and managed and administered by Reserve Bank.
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Consider the following statements with reference to Payments Infrastru...
Introduction:
The Payments Infrastructure Development Fund (PDF) is a fund established by the Reserve Bank of India (RBI) with the aim of promoting the deployment of Points of Sale (PoS) infrastructure in tier-3 to tier-6 centers and northeastern states in India. This fund aims to enhance the digital payment ecosystem and expand the reach of digital transactions in these areas.
Explanation:
The given statements are as follows:
Statement 1: It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centers and northeastern states.
This statement is correct. The main objective of the Payments Infrastructure Development Fund (PDF) is to encourage the deployment of PoS infrastructure in tier-3 to tier-6 centers and northeastern states. The PDF aims to address the asymmetry in deployment of PoS infrastructure across the country and promote digital transactions in these areas. The fund will support the deployment of both physical and digital modes of PoS infrastructure.
Statement 2: Half of the fund corpus is being provided by the Reserve Bank of India.
This statement is also correct. The PDF corpus is funded by contributions from the RBI, card-issuing banks (CIBs), and card networks operating in the country. The RBI has contributed 50% of the total corpus of the fund, while the remaining 50% is contributed by the CIBs and card networks. This fund is expected to provide impetus to the digital payment infrastructure in the targeted areas.
Conclusion:
Both the statements given in the question are correct. The Payments Infrastructure Development Fund (PDF) aims to encourage the deployment of PoS infrastructure in tier-3 to tier-6 centers and northeastern states in India. The fund corpus is provided by the RBI, CIBs, and card networks, with the RBI contributing 50% of the total corpus. This fund is expected to promote digital payments and enhance financial inclusion in these areas.
The Payments Infrastructure Development Fund (PDF) is a fund established by the Reserve Bank of India (RBI) with the aim of promoting the deployment of Points of Sale (PoS) infrastructure in tier-3 to tier-6 centers and northeastern states in India. This fund aims to enhance the digital payment ecosystem and expand the reach of digital transactions in these areas.
Explanation:
The given statements are as follows:
Statement 1: It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier-3 to tier-6 centers and northeastern states.
This statement is correct. The main objective of the Payments Infrastructure Development Fund (PDF) is to encourage the deployment of PoS infrastructure in tier-3 to tier-6 centers and northeastern states. The PDF aims to address the asymmetry in deployment of PoS infrastructure across the country and promote digital transactions in these areas. The fund will support the deployment of both physical and digital modes of PoS infrastructure.
Statement 2: Half of the fund corpus is being provided by the Reserve Bank of India.
This statement is also correct. The PDF corpus is funded by contributions from the RBI, card-issuing banks (CIBs), and card networks operating in the country. The RBI has contributed 50% of the total corpus of the fund, while the remaining 50% is contributed by the CIBs and card networks. This fund is expected to provide impetus to the digital payment infrastructure in the targeted areas.
Conclusion:
Both the statements given in the question are correct. The Payments Infrastructure Development Fund (PDF) aims to encourage the deployment of PoS infrastructure in tier-3 to tier-6 centers and northeastern states in India. The fund corpus is provided by the RBI, CIBs, and card networks, with the RBI contributing 50% of the total corpus. This fund is expected to promote digital payments and enhance financial inclusion in these areas.
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Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements with reference to Payments Infrastructure Development Fund (PDF):1. It aims to encourage deployment of Points of Sale (PoS) infrastructure (both physical and digital modes) in tier- 3 to tier-6 centres and northeastern states.2. Half of the fund corpus is being provided by the Reserve Bank of India.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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