NPCI receives final nod from RBI to function as Bharat Bill Payment Central Unit
Posted on:29 Jul 2017 10:15:18
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29 July 2017 Current Affairs: National Payments Corporation of India (NPCI) received a final nod from the Reserve Bank of India to function as the Bharat Bill Payment Central Unit (BBPCU) and operate the Bharat Bill Payment System (BBPS).
Last year, BBPS operating units received in-principle approval from Reserve Bank of India took part in the pilot.
The Bharat Bill Payment System (BBPS) is a RBI conceptualized system driven by National Payments Corporation of India (NPCI).
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