CURRENT AFFAIRS

Detailed explanation-1: -Our associate Paytm Payments Bank Limited (PPBL) has got the final approval from Reserve Bank of India (RBI) to operate as Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007.

Detailed explanation-2: -The concept of Payment Bank is introduced by the Reserve Bank of India (RBI). The maximum deposit amount to these banks is currently limited to INR 1 lakh for each customer, though there are chances t..

Detailed explanation-3: -Paytm Payments Bank on Monday said it has received final approval from the Reserve Bank of India to operate as a Bharat Bill Payment Operating Unit (BBPOU).

Detailed explanation-4: -India currently has 6 Payment Banks namely, Airtel Payment Bank, India Post Payment Bank, Fino, Paytm Payment Bank, NSDL Payment Bank and Jio Payment Bank.

Detailed explanation-5: -The correct answer is Paytm Payments Bank. Paytm Payments Bank has become an official acquiring partner for the government’s e-RUPI vouchers initiative.