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.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
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:
As India celebrating its 80th Independence Day in 2026, there are many historical events that…
India’s National Anthem “Jana Gana Mana” is one of the most important national symbols of…
The Indian Independence Act 1947 which was one of the most significant constitutional landmarks in…
The struggle for Indian freedom was waged not just on the streets and in jails…
India celebrates its 80th Independence Day on August 15, 2026, after completing 79 years of…
India’s history since its Independence is a unique story of economic and social development. At…