RBI Approves Infibeam Avenues for the Bharat Bill Payment License

Published on December 27, 2022
Current Context: The Reserve Bank of India (RBI) has granted Infibeam Avenues Limited (IAL), India's first publicly traded payments infrastructure company, a perpetual license for its bill payment business, BillAvenue. It was granted in accordance with its circular on the perpetual validity of certificates of authorization (CoA) issued to payment system operators (PSOs) under the Payment and Settlement Systems Act, 2007.
RBI Approves Infibeam Avenues for the Bharat Bill Payment License
  • Built on the Bharat BillPay infrastructure of the NPCI, BillAvenue is a uniform, interoperable online bill payment platform that offers clients throughout India the ability to pay their bills "anytime, anyplace." This is done through a network of small, mid, and major agent Institutions.
  • BillAvenue will now operate as a Bharat Bill Payment Operating Unit (BBPOU) under the Bharat Bill Payment System following the issuance of the license (BBPS).
  • BillAvenue will function as a BBPOU, onboarding billers and agent institutions to provide customer service, as well as a biller and customer operating unit.
  • About Infibeam Avenues Limited (IAL):
    • Managing Director (MD) – Vishal Mehta
    • Headquarters – Gandhinagar, Gujarat
    • Establishment – 2007

Question: 

Q.1 The Reserve Bank of India (RBI) has granted ­­­__________, India's first publicly traded payments infrastructure company, a perpetual license for its bill payment business, BillAvenue?
a. Infibeam Avenues limited
b. Infrabeam Avenues limited
c. Infrared beam Avenues Limited
d. Both a and b

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