BoB & FSSAI Signed MoU to Launch Customized Web-based Payment Solution

Current Context: On August 1, 2025, Bank of Baroda (BoB) signed a Memorandum of Understanding (MoU) with the Food Safety and Standards Authority of India (FSSAI) in New Delhi to launch a customized web-based payment platform.

• Named the FSSAI Payment Solution, it aims to streamline digital financial transactions and enhance transparency across FSSAI operations.
• The system automates processes like grant disbursements, vendor payments, and Management Information System (MIS) reporting.
• It enables real-time monitoring of nodal, state, and district-level accounts, improving financial oversight.
• The initiative supports digital governance and aligns with the government’s vision for ease of doing business in the food safety sector.

Question:

Q.1 On August 1, 2025, Bank of Baroda signed a Memorandum of Understanding (MoU) with which organisation to launch the FSSAI Payment Solution?
a) National Payments Corporation of India (NPCI)
b) Ministry of Consumer Affairs
c) Reserve Bank of India (RBI)
d) Food Safety and Standards Authority of India (FSSAI)

Answer: d) The MoU was signed between Bank of Baroda and FSSAI in New Delhi to launch a customised payment platform for food safety sector operations.