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  9. Q43

JKPSC KAS 2023 · Question 43 of 100

Consider the following statements regarding the Payment Infrastructure Development Fund (PIDF). 1. The Ministry of Finance set up a PIDF to encourage the adoption and deployment of Point-of-Sale devices (POS). 2. The PIDF will be governed through an advisory council and managed and administered by the RBI. 3. The fund has been created to encourage the adoption of POS machines by businesses in all states including North-eastern states. The correct answer/s is/are:

Indian Economy

  1. A1 only
  2. B2 and 3 onlyCorrect
  3. C1 and 2 only
  4. D1, 2 and 3

Answer: B. 2 and 3 only

Explanation

PIDF was set up by the RBI (not the Finance Ministry) in 2021, so statement 1 is wrong. It is governed by an advisory council and administered by RBI (2 correct) to promote digital payment acceptance infrastructure across India including the North-East (3 correct).

Source: JKPSC KAS Prelims 2023 (Set A) via TheExamPillar

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