RBI sets up Rs 500 crore fund to push e-pay

The Reserve Bank of India (RBI) has created a Payments Infrastructure Development Fund (PIDF) with a Rs 250-crore investment to subsidise setting up of card and e-payment infrastructure in small towns and Northeast India. The fund will have an initial size of Rs 500 crore, with the balance amount coming from card- issuing banks and payments firms.

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