CURRENT AFFAIRS

Detailed explanation-1: -Mumbai, 20th October 2022: NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of National Payments Corporation of India (NPCI), today announced that it has partnered with Kotak Mahindra Bank Limited (“Kotak”) to introduce its credit cards on the Bharat BillPay ecosystem in the Credit Card Biller category.

Detailed explanation-2: -ICICI Bank partners with NPCI to launch RuPay credit cards.

Detailed explanation-3: -Bharat BillPay is an integrated ecosystem connecting banks and non-banks in bills aggregation business, Billers, payment service providers and retail Bill outlets. Accessible. Facilitate seamless payment of bills through any channel : Digital and physical. Cost-effective.

Detailed explanation-4: -Bharat Bill Payment System is a Reserve Bank of India’s (RBI) conceptualised system, managed by National Payments Corporation of India (NPCI), which offers integrated, accessible and interoperable bill payment services to consumers across geographies with certainty, reliability and safety of transactions.

Detailed explanation-5: -Kotak Mahindra Bank recently launched its ‘Veer’ credit card in partnership with the National Payments Corporation of India (NPCI). This is the first credit card that the private lender has introduced on the RuPay platform.