Bharat Bill Payment System

Recently secured shareholder approval to approval RBI; has database of 100 mn users

At present, IRCTC already has I-PAY, its in-house payment gateway

NPCI's directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges

More than 80 million transactions are processed on the payments platform on a monthly basis

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April

This is the third time that Vijay Shekhar Sharma-promoted Paytm Payments Bank (PPBL) is facing action from the banking regulator since its inception in May 2017

Prior to joining NPCI, Chaturvedi was country head at PayU and chief-corporate business alliances at Airtel Payments Bank

The coronavirus (Covid-19) pandemic has resulted in massive adoption of UPI in the offline and online segments

"Vakrangee can now directly handle payment and aggregation of payment services relating to bills under the scope of BBPS (Bharat Bill Payment System)," the company said

The detailed instructions in this regard will be issued by the end of September 2019

National Payments Corporation of India has delivered a unified platform called BBPS, which aggregates multiple billers onto a single platform

It will make the process seamless, as you will not have to log on to individual websites