HDFC & Kotak Mahindra Bank Goes Live on Bharat Bill Payment System

Posted on:10 Feb 2017 09:38:31
HDFC & Kotak Mahindra Bank Goes Live on Bharat Bill Payment System
10 February 2017 Current Affairs: The Private sector lenders HDFC Bank started operating its Bharat Bill Payment System (BBPS) on February 7, 2017 to ease the bill payment service for the customers.

Along with HDFC, Kotak Mahindra Bank also went live with the BBPS service.

BBPS was introduced by National Payments Corporation of India (NPCI). It is a centralized payment platform that offers speed and convenience to pay all types of bills.

A customer can pay multiple bills from a single platform without the need of visiting multiple websites or issuing individual cheques, or also registering billers with her bank for standard instructions for debit.

The BBPS offers integrated and interoperable bill payment service with security, certainty and reliability of transactions.

The service is available in multiple payment modes, online and through a network of agents. An instant confirmation is generated for the bill payments. The BBPS will transform the society from cash to electronic payment system, making it less dependent on cash.

 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 May

27 MAY
NEWS
26 MAY
NEWS
25 MAY
NEWS
24 MAY
NEWS

Current Affairs 2018 April

30 APRIL
NEWS
29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS

Current Affairs 2018 March

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS