12th July 2024 (9 Topics)
1
Jul
2
Jul
3
Jul
4
Jul
5
Jul
6
Jul
8
Jul
9
Jul
10
Jul
11
Jul
12
Jul
13
Jul
15
Jul
16
Jul
17
Jul
18
Jul
19
Jul
20
Jul
22
Jul
23
Jul
24
Jul
25
Jul
26
Jul
27
Jul
29
Jul
30
Jul
31
Jul
Bharat Bill Payment System
Context
In order to centralize and streamline the bill payment process across India, the Reserve Bank of India (RBI) has mandated that all banks process credit card bill payments through the Bharat Bill Payment System (BBPS).
What is Bharat Bill Payment System?
- Developed by: National Payments Corporation of India (NPCI)
- The Bharat Bill Payment System (BBPS) is a unified platform to streamline and centralize the process of paying bills across India.
- BBPS facilitates bill payments through a wide network that includes bank branches, online portals, mobile apps, and other digital channels.
- This system is designed to make bill payments convenient and efficient for both businesses and customers by offering various payment methods and ensuring prompt settlements.
- Significance:
- Unified Platform for All Payments
- Convenient and User-Friendly
- Timely Reminders
- Enhanced Security
- Multiple Payment Modes
Fact Box: National Payments Corporation of India (NPCI)
|
More Articles
Courses
Study
Notes
Home
Resources
More
