NPCI gets RBI nod to operate Bharat Bill Payment System
July 29th, 2017
National Payments Corporation of India (NPCI), the umbrella organization for all retail payment systems has received a final nod from the Reserve Bank of India to function as the Bharat Bill Payment Central Unit (BBPCU) and operate the Bharat Bill Payment System (BBPS). The final clearance from RBI comes almost a year after NPCI launched the BBPS pilot project to make payment of utility bills easier. The pilot started on 31 August 2016 with eight BBPS operating units that had received in-principle approval from RBI.