Categories: Business

NPCI transfers Bharat Bill Payments business to its new subsidiary NBBL

The National Payments Corporation of India (NPCI) has transferred all its Bharat Bill Payment System (BBPS) transaction business to NPCI Bharat BillPay Limited (NBBL), a wholly-owned subsidiary of NPCI. All licensed bill processors on the Bharat Bill Payment Operating Units (BBPOU), i.e. the banks and payment aggregators, have been directed to start accounting their billing transactions under NBBL from April 1 2021.

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The decision to set up a separate subsidiary for bill payment business aims to scale growth of the interoperable bill platform by giving it increased autonomy in operations and onboarding of new billers. BBPS is an interoperable bill payments platform set up in 2013, for use by banks, fintech companies and biller merchants to automate bill collection and request solutions.

Important takeaways for all competitive exams:

National Payments Corporation of India MD & CEO: Dilip Asbe.
National Payments Corporation of India Headquarters: Mumbai.
National Payments Corporation of India Founded: 2008.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.