Which organisation(s) got the in-principle approval from RBI to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS?
[D]All the above
Recently, the Reserve Bank of India (RBI) has granted ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS. The Bharat Bill Payment System (BBPS) is an integrated bill payment system and it will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of ‘anytime anywhere’ bill payment to customers. The present scope of BBPS will include utility bill payments, such as, electricity, water, gas, telephone and Direct-to-Home (DTH). Later, based on the experience, this would be extended to include other types of repetitive payments, like school / university fees, municipal taxes etc. in future.