The Reserve Bank of India (RBI) has granted in-principle approval to Vakrangee Ltd to set up Bharat Bill Payment Operating Unit (BBPOU) to handle payment services related to bills. With in-principle authorisation from RBI, Vakrangee Ltd will set up and operate BBPOU under the Payment and Settlement Systems Act, 2007 and will now be able to directly handle payment and aggregation of payment services relating to bills under the scope of BBPS (Bharat Bill Payment System).
The company offers banking, insurance, money transfer services, e-commerce, e-governance and other digital services on behalf of its partner banks, insurers, government agencies, e-commerce players among others through its branches mostly located in rural and semi-urban areas.
Important takeaways for all competitive exams:
Did you know that one beautiful country in East Asia is lovingly called the “Land…
Did you know that many of the world’s languages are connected like members of one…
Did you know that hospitals and healthcare centers around the world produce tons of medical…
India remained the second-largest buyer of Russian fossil fuels in January 2026, importing energy worth…
The Jharkhand State Government on February 24, 2026, presented a ₹1.58 lakh crore Budget for…
Palamu Tiger Reserve has launched the Vanjeevi Didi Initiative (VDI) to empower rural women in…