Menu

Promotional Scheme for support under Financial Inclusion Fund (FIF) for Deployment of 20 lakh BHIM Aadhar Pay Devices
No. NB.DFIBT.HO/ 4808-4824 /DFIBT-23/2019-20              08 January 2020
Circular No. 10/DFIBT- 02 /2020
The Chief Executive Officer
All Small Finance Banks / Payment Banks
 
Dear Sir,
 
Promotional Scheme for support under Financial Inclusion Fund (FIF) for Deployment of 20 lakh BHIM Aadhaar Pay Devices_
 
The Government of India had announced a scheme for deployment of 20 lakh BHIM Aadhaar Pay devices including merchant onboarding, during 2017-18. The objective of the scheme is to create acceptance infrastructure at ground level in order to give a boost to digital transactions and was implemented through Commercial Banks. 
 
In the XXV meeting of the Advisory Board on Financial Inclusion Fund (FIF), the scheme was reviewed and it has been decided to extend the scheme of BHIM Aadhaar Pay devices for merchant transactions to Small Finance Banks and Payment Banks. The time period of the scheme has been extended upto 31 March 2020.
 
Accordingly, Banks may make efforts to encourage and popularize the digital transactions in the retail market segment and submit the proposals as well as claim applications in the prescribed format (enclosed) at an early date and in any case not later than 31 March 2020.
 
 
Yours faithfully,
 
(L. R. Ramachandran)
Chief General Manager
 
Enclosures: 
1. Details of the scheme
2. Format for submission of proposal
3. Format for submission of claim