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?

INR 16, 810 billion

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INR 4,703 billion

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INR 10,172 billion

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INR 6,223 billion

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None of the above

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Solution

The correct option is D INR 6,223 billion
INR 6,223 billion is being generated in bill payments every year by the top 20 cities.

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Similar questions

Q. 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?

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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.

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Statement: The electricity company informed the consumers through a notice that those who did not pay their bills by the due date would be charged penalty for every day of default.

Assumptions:

I. Money collected as penalty would compensate for the losses incurred due to delay in making payments of the bills.

II. People generally read notice.

III. Majority of people would pay their bills by the due date to avoid penalty.

Q. Non payment in accordance with the apparent tenor of bill.

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The correct option is D INR 6,223 billionINR 6,223 billion is being generated in bill payments every year by the top 20 cities.

The correct option is D INR 6,223 billion
INR 6,223 billion is being generated in bill payments every year by the top 20 cities.