Bharat Bill Payment System Current Affairs, GK & News
RBI Norms for Setting Up of Bharat Bill Payment Operating Units
The Reserve Bank of India has eased the norms for non-bank entities for setting up Bharat Bill Payment operating units by reducing the net worth that is required to Rs 25 crore. This was done with the aim of encouraging more stakeholders to participate in this segment. Currently, the required net worth was Rs 100 ..
Month: Current Affairs - May, 2022
Category: Economy & Banking Current Affairs - 2022
Topics: Bharat Bill Payment Central Unit • Bharat Bill Payment Operating Units • Bharat Bill Payment System • National Payments Corporation of India • Reserve Bank of India
RBI expands coverage of Bharat Bill Payment System
In a consumer friendly initiative, Reserve Bank of India (RBI) has expanded the scope and coverage of Bharat Bill Payment System (BBPS) to include all categories of billers who raise recurring bills and payments (except prepaid recharges) as eligible participants, on a voluntary basis. Key Highlights With the expansion of the scope of payment facility, ..
Month: Current Affairs - September, 2019
Category: Economy & Banking Current Affairs - 2022
Topics: Bharat Bill Pay • Bharat Bill Payment System • National Payments Corporation of India • Online Bill Payment • Reserve Bank of India
Benchmarking India s Payment Systems
The Reserve Bank of India (RBI) report “Benchmarking India s Payment Systems” provides a comparison of the payment ecosystem in India with the payment systems and usage trends in other major countries. Findings of the Report Even though there was robust growth in the volume of retail electronic transactions amid a strong regulatory framework, India ..
Topics: Bharat Bill Payment System • BRICS • Demonetisation • Payment systems • Point of Sale Terminals • RBI • Reserve Bank of India • Unified Payments Interface • UPI
The Reserve Bank of India (RBI) approves Spice Digital to process bill payments under BBPS
The Spice Digital Limited (SDL) has received the final licence from the Reserve Bank of India (RBI), to process bill payments as a Bharat Bill Payment Operating Unit (BBPOU) in the Bharat Bill Payment System (BBPS). The BBPS is a RBI conceptualised system driven by National Payments Corporation of India (NPCI). It is a one-stop ..
Topics: Banking in India • Bharat Bill Payment System • Economy of India • Financial services • Mobile payments in India • Money • National Payments Corporation of India • Payment systems • Spice Digital
NPCI approves Spice Digitals operation under Bharat Bill Payment System
The National Payments Corporation of India (NPCI) has given a nod to Spice Digital Ltd. for processing bill payments under the Bharat Bill Payment System (BBPS) as a Bharat Bill Payment Operating Unit (BBPOU). Spice Money Ltd, a fintech company had received an in-principle approval to set-up as a BBPOU under the Payment and Settlement ..
Month: Current Affairs - August, 2017
Topics: Bharat Bill Payment System • Bill Payments • National • NPCI • Spice Digital
Canara bank launched two digital products: Bharat QR and Bharat Bill Payment System (BBPS) for online payments
The Canara Bank has recently launched two digital products: ‘Bharat QR’, a platform for payment settlement at merchant locations, and Bharat Bill Payment System (BBPS) is an integrated bill payment system for Net banking customers. The first service is a mobile application, which enables a merchant to accept payments as settlement for sale of goods ..
Topics: Bank • Banking in India • Bharat Bill Payment System • Economy • Financial services • Money • National Payments Corporation of India • Online banking • Payment • Payment and settlement systems in India • Payment systems