Paytm Payments Bank gets final RBI nod to operate as Bharat Bill Payment Operating Unit

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Paytm Payments Bank announced on Monday that it has received final RBI approval to operate as a Bharat Bill Payment Operating Unit (BBPOU).

A BBPOU may facilitate bill payment services for electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bill, and municipal taxes under the Bharat Bill Payment System (BBPS). The National Payments Corporation of India owns BBPS. So far, Paytm Payments Bank Ltd (PPBL) has been carrying out this activity with RBI’s in-principle approval. According to RBI guidelines, PPBL will list all agent institutions on its website.

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Paytm Payments Bank gets final RBI nod to operate as Bharat Bill Payment Operating Unit

Paytm Payments Bank announced on Monday that it has received final RBI approval to operate as a Bharat Bill Payment Operating Unit (BBPOU).

A BBPOU may facilitate bill payment services for electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bill, and municipal taxes under the Bharat Bill Payment System (BBPS). The National Payments Corporation of India owns BBPS. So far, Paytm Payments Bank Ltd (PPBL) has been carrying out this activity with RBI’s in-principle approval. According to RBI guidelines, PPBL will list all agent institutions on its website.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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