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:
The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) have extended their…
England fast bowler Mark Wood announced his retirement from international cricket on September 22, 2026,…
The Indian women’s cricket team won the gold medal at the Asian Games 2026 after…
India has endorsed the consensus outcomes of the G20 Energy Abundance Ministerial, reinforcing its engagement…
The 7th edition of the National Formulary of India (NFI) 2026 was launched on September…
The Government of India has dissolved the Digital Communications Commission (DCC), the apex inter-departmental decision-making…