83. Consider the following statements:
1.National Payments Corporation of India (NPCI) is the umbrella organisation for all retail payments system in India.
2. Bharat Bill Payment System (BBPS) is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI).
3. Bharat Bill Payment System (BBPS) is an integrated bill payment system in India.
Which of the above statement(s) is/are correct?

Only 1 and 2

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Only 2 and 3

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Only 1 and 3

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All of the above

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Solution

The correct option is D All of the above
National Payments Corporation of India (NPCI) is the umbrella organisation for all retail payments system in India. Bharat Bill Payment System (BBPS) is a Reserve Bank of India (RBI) conceptualised system driven by National Payments Corporation of India (NPCI).Bharat Bill Payment System (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents, enabling multiple payment modes, and providing instant confirmation of payment. BBPOU functions under the Payment and Settlement Systems Act, 2007.

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Similar questions

Q. 8. Which of the following statements are correct regarding the ‘National Payments Corporation of India’?

b) (1) and (2) only
c) (2) and (3) only
d) All 3 are correctly matched
a) (1) only

Bharat Bill Payment System (BPPS), at anytime anywhere bill payment system. Which of the following is/are correct?

1. The system will offer online, as well as on ground bill payment services to customers.

2. The services will include only the payment of utility bills such as electricity, gas and water.

3. Bharat Bill Payment System is intended for the implementation of a unified bill payment system across the country.

Which of the statements given above is/are correct?

9. Consider the following statements,

1] Bharat QR code the world's first inter-operable payment acceptance solution.

2] Payment networks such as MasterCard and Visa have joined hands with National Payment Corporation of India (NPCI) to launch Bharat QR.

Which of the above statements is/are incorrect?

Q. Bharat Bill Payment System is a major component of the retail payment transactions in India and is characterized by the presence of a large number of billers, who provide a variety of payment options to their customers. According to information available on the RBI website, the top 20 cities are generating INR how much amount in bill payments every year?

6. Consider the following statements,

1] Recently, India Post received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit.

2] India Post Payments Bank is the third entity to receive payments bank permit after BhartiAirtel and Paytm.

Which of the above statements is/are correct?

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