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RBI allowed Prepaid Mobile Recharges through BBPS

Published on June 17, 2021
Current Context: The Reserve Bank of India (RBI) allowed prepaid mobile recharges through the Bharat Bill Payment System (BBPS).
RBI allowed Prepaid Mobile Recharges through BBPS
  • The National Payments Corporation of India (NPCI) operates BBPS. The BBPS is an interoperable platform for recurring bill payments.
  • The decision was announced in regards to constant development in distinct biller categories and to allow mobile prepaid customers with additional options to recharge.
  • Also, ‘mobile prepaid recharges’ as a biller category will be inducted in BBPS. The changes for the same will be implemented on or before 31st August 2021.
  • Also in May 2021, around 213.59 million bill payment transactions took place through the BBPS platform.
  • BBPS grants bill payment services to consumers through a network of agents, retail shops, bank branches and digital channels like internet banking of banks, banking mobile apps, also through multiple payment modes like Card, UPI, AePS, wallet, cash with instant confirmation.
  • Static Part: 
    • HQ of RBI and NPCI: Mumbai
    • Governor of RBI: Shaktikanta Das
    • MD and CEO of NPCI: Dilip Asbe

Question: 

Q.1 Which organisation allowed prepaid mobile recharges through the Bharat Bill Payment System (BBPS)?
a. State Bank of India (SBI)
b. Insurance Regulatory and Development Authority of India (IRDAI)
c. Reserve Bank of India (RBI)
d. Central Board of Indirect Taxes and Customs (CBIC)
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