GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Pick the odd one out from the following about Bharat Bill Payment System (BBPS).
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BBPS is a unified bill payment system across the country.
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It will be setting up the standards in operations related to payments, clearance, and settlements.
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Payment gateways, service providers, banks, and agents will be participants in this system.
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None of these
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Explanation:
Detailed explanation-1: -Bharat Bill Payment System (BBPS) can be extended in future to include services facilitating the collection of repetitive payments like school fees, tax payments, bill payments and other repetitive or periodic payments. It can also include the e-commerce services as decided by the Reserve Bank of India (RBI).
Detailed explanation-2: -Dec 7, 2022: The Reserve Bank of India has announced two developments when it comes to the Unified Payment Interface(UPI) and Bharat Bill Payment System(BBPS)
Detailed explanation-3: -Tax Payments. Doorstep Services. Bulk Online Payments. Debit Cards. Branch Payments. Employee Salary Solution.
There is 1 question to complete.