National Payments Corporation of India Current Affairs, GK & News

RBI proposes for Cross-border inward payments through BBPS

Recently, the Reserve Bank of India proposed to allow Bharat Bill Payment System (BBPS) to process cross-border inbound bill payments. This will help the Non-resident Indians (NRIs) who face challenges in paying utility bills in India. If proposal is accepted, it will benefit the NRIs. Other significance of the move include; Cross-border inward payments through ..

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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 ..

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RBI: Cash Withdrawal via UPI

A cardless cash withdrawal facility has been made available at all ATMs by the Reserve Bank of India (RBI). This facility will be made available via the Unified Payment Interface (UPI) irrespective of the bank. Overview: This decision was made by the Monetary Policy Committee (MPC) of the RBI. All banks have been given permission ..

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What is Positive Pay System?

The guidelines for the implementation of the Positive Pay System were issued by the RBI for the banks of the country. From 1st January 2021, this system has been implemented to safeguard banks against any cheque frauds. Overview: The National Payments Corporation of India has developed the Positive Pay System. Through this system the details ..

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UPI: 500-crore Milestone in Volume

In March 2022, India’s Unified Payments Interface (UPI) has crossed the 500-crore mark in terms of volume and in terms of value it was close to touching the Rs 10-lakh crore milestone. Overview: Around 540.56 crore payments have been processed by UPI in March amounting to Rs 9,60,581.66 crore. This data has been revealed by ..

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RBI expands Scope of BBPS

Reserve Bank of India on has expanded the scope of Bharat Bill Payment System (BBPS) which will be effective from August 31, 2021. How scope has been expanded? Scope of BBPS has been expanded by adding ‘mobile prepaid recharges’ as a biller category. This move will help millions of prepaid phone subscribers across India. Background ..

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