29 July 2017

IOB goes live with Bharat Bill Payment system

IOB goes live with Bharat Bill Payment system

Public sector Indian Overseas Bank has offered Bharat Bill Payment System, introduced by the National Payments Corporation of India, for its customers. BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.

The services include online payments of electricity, telecommunication, DTH, water and gas bills, the Chennai headquartered bank said in a statement. Indian Overseas Bank is one of the three public sector banks (apart from Bank of Baroda and Union Bank of India) to get the approval from RBI for providing the service.

Important Takeaways from Above News-
  • R Subramaniakumar is the MD & CEO of IOB.
  • IOB is headquartered in Chennai.
  • A. P. Hota is the MD & CEO of NPCI.

Source- The Hindu Business Line

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