Private sector lenders HDFC Bank and Kotak Mahindra Bank are live with the Bharat Bill Payment System (BBPS) that is aimed at easing utility and other repetitive bill payments for consumers.
The BBPS is a centralised system created by the National Payments Corporation, involving banks and non-banks and allows agents to access bill payments services in an interoperable manner, HDFC Bank stated.
A customer can pay multiple bills from a single platform without the hassle of visiting multiple websites or issuing individual cheques, or also registering billers with her bank for standard instructions for debit. So, let’s discuss some questions related to this post:
Q1. Name the Private Lenders, which are live with the Bharat Bill Payment System is aimed at easing utility and other repetitive bill payments for consumers, recently?
Ans1. HDFC Bank and Kotak Mahindra Bank
Source- Business Standard