POS Current Affairs, GK & News

RBI creates Payment Infrastructure Development Fund

On June 5, 2020, the Reserve Bank of India created Payment Infrastructure Development Fund of Rs 500 crores. Highlights The apex bank has made an initial contribution of Rs 250 crores towards the funds. The rest of the fund is to come through the card issuing banks. The fund has been created to increase point ..

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Nilekani Panel suggests measures to encourage Digital Payments

The Reserve Bank of India (RBI) appointed Nandan Nilekani committee has submitted its suggestions on measures to encourage digital payments in India to RBI Governor Shaktikanta Das. Background: In January 2019 the RBI had set up the five-member panel under the chairmanship of Nandan Nilekani to provide suggestions on deepening digital payments with a view ..

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