BANKING AFFAIRS

Detailed explanation-1: -The National Payments Corporation of India (NPCI) will function as the authorized Bharat Bill Payment Central Unit (BBPCU) to set the standards for BBPS processes which need to be adhered to by all operating units under the system.

Detailed explanation-2: -National Payments Corporation of India (NPCI) has been authorized by RBI as the Bharat Bill Payment Central Unit (BBPCU) and is responsible for setting business standards, rules and procedures for technical and business requirements for all participants.

Detailed explanation-3: -Key features that are unique to BBPS are highlighted below: Page 8 4 | Page BBPS is a tiered structure with NPCI functioning as the Bharat Bill Payment Central Unit (BBPCU) and entities (banks and non-banks) authorised by the Reserve Bank of India (RBI) functioning as Bharat Bill Payment Operating Units (BBPOUs).

Detailed explanation-4: -The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI).

Detailed explanation-5: -Top Features of Bharat Bill Payment System (BBPS) Pay any kind of bills like electricity, water, telephone, DTH, mobile phone, gas, etc. Pay any kind of bills like electricity, water, telephone, DTH, mobile phone, gas, etc. Pay any kind of bills like electricity, water, telephone, DTH, mobile phone, gas, etc.