No. NB.DFIBT.HO/ 4738-4773 /DFIBT-23/2019-20 08 January 2020
Circular No. 09 /DFIBT-02 /2020
The Chairman/Managing Director and Chief Executive Officer
All Scheduled Commercial Banks
Promotional Scheme for support under Financial Inclusion Fund (FIF) for Deployment of 20 lakh BHIM Aadhaar Pay Devices_- Extension of Scheme period
Please refer to our circular No. 55/DFIBT-02/2019 dated 08 March 2019 on the captioned subject.
The scheme was reviewed in the XXV meeting of the Advisory Board on FIF and it has been decided to extend the time period of the scheme up to 31 March 2020. Banks are advised to submit the proposals as well as claims for the sanctions already provided to them under the scheme, at the earliest and not later than 31 March 2020. The claims will be settled on first cum first serve basis.
Further, banks are advised to encourage deployment of BHIM Aadhaar Pay Devices at merchant locations to popularize digital transactions in relaxed MDR scenario. In case of need, fresh proposals for sanction may be submitted to us directly as per format stipulated for the purpose.
(L. R. Ramachandran)
Chief General Manager