GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Payments Corporation of India (NPCI) is being used by banks for ____
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Remittance
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Advisory service
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Clearing and settlement
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Payments and settlements
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Explanation:
Detailed explanation-1: -National Payments Corporation of India (NPCI), an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA), is an umbrella organisation for operating retail payments and settlement systems in India.
Detailed explanation-2: -The main objective of NPCI is to consolidate, combine, and integrate multiple systems for payment with different service levels into one nationwide standard uniform and business process for all retail payment transactions.
Detailed explanation-3: -Bharat Bill Payment System (BBPS) The Bharat Bill Payment System is a Reserve Bank of India (RBI) conceptualised system driven by the NPCI.
There is 1 question to complete.