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RBI extends scheme for encouraging deployment of PoS infrastructure to street vendors
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In a big relief, the Reserve Bank of India (RBI) has extended the scheme for encouraging deployment of Point of Sale (PoS) infrastructure to street vendors covered under the PM SVANidhi programme in tier 1 and 2 centres.
The Payments Infrastructure Development Fund (PIDF) scheme, with a corpus of Rs 345 crore, envisages creating 30 lakh new touch points every year for digital payments in tier-3 to tier-6 centres. The scheme, operationalised in January this year, has now been extended to select street vendors in tier 1 and 2 centres.
Launched in June 2020, the PM Street Vendor's AatmaNirbhar Nidhi (PM SVANidhi) scheme is aimed at helping street vendors impacted by the coronavirus pandemic to resume their livelihood activities.
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