National Payments Corporation of India Current Affairs, GK & News
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 ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs
Topics: Bharat Bill Payment System (BBPS) • National Payments Corporation of India • Reserve Bank of India (RBI)
RBI to set new QR code rules to change payment picture of India
The Reserve Bank of India recently ordered payment system operators (PSO) from launching new proprietor QR code for transactions. The apex Bank asked the PSOs switch to at least 1 interoperable QR code. This is to to use the same QR code across multiple payment applications. This is being done by the Reserve Bank of ..
Month: Current Affairs - October, 2020
Category: Economy & Banking Current Affairs
Topics: american express • Android • Digital Payments • Mastercard • mobile application • National Payments Corporation of India • QR code • Reserve Bank of India • visa card
NPCI International Payments Limited (NPIL): set up by NPCI for international market operations
The National Payments Corporation of India has set up ‘NPCI International’ to operate its international market of Unified Payment Interface, instant payment service, and its electronic payment card scheme RuPay. What is the function of NPCI? The National Payments Corporation of India is the apex organization to conduct operations related to retail payments and settlement ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs • Government Schemes Current Affairs • India Nation & States Current Affairs • International Current Affairs
Topics: Digital India • Digital transactions • National Payments Corporation of India • Reserve Bank of India • RuPay • Unified Payment Interface
RBI formulated new regulations framework for Umbrella entity for retail payments
The Reserve Bank of India formulated a new framework for the establishment of a new umbrella entity for retail payments. According to RBI, the entity will be handed over the responsibility of setting up, managing, and operating new payment systems in the retail space following the same way as the National Payments Corporation of India ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs
Topics: Monetary policy of India • National Payments Corporation of India • Payments • Reserve Bank of India • Retail Banking
UPI transactions at record 1.49 billion in July
In the first such case, the Unified Payments Interface based transactions have reached the highest ever tally of 1.49 billion in the month of July whereas the total value of transactions has reached the lifetime high of Rs 2.9 lakh crore. This proves more people trust this platform and also the individual transaction value is ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs
Topics: BBPS • FASTag • IMPS • National Payments Corporation of India • Unified Payments Interface • UPI