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Bharat Bill Payment System (BBPS)
BBPS is an integrated bill payment system which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground. The system will provide multiple payment modes and instant confirmation of payment.
Answer the following questions regarding BBPS.
1. Who has been identified to act as Bharat Bill Payment Central Unit (BBPCU)?
a. RBI
b. SBI
c. NPCI
d. Govt of India
2. Banks and non-bank entities presently engaged in any of the above bill payment activities falling under the scope of BBPS and desirous of continuing the activity are ......
a. mandatorily required to apply for approval/authorisation to become BBPOUs
b. allowed to decide whether they want to become BBPOUs or not
c. Any one of the above
d. Neither of the above
3. Approval/authorisation to become BBPOUs should be applied to ......
a. RBI
b. SBI
c. NPCI
d. Govt of India
4. Net worth of the non-bank entities for seeking authorisation as BBPOUs should be atleast ......
a. Rs.10 crore
b. Rs.50 crore
c. Rs.100 crore
d. Rs.200 crore
5. Whether the non-bank entities will be required to show upfront that they are meeting the capital requirement for BBPOUs?
a. Yes
b. Not required
c. If an entity applying for authorisation for BBPOU does not have the required networth, then they are required to demonstrate unequivocal commitment/sources for raising the funds and also specify the time period within which the funds will be raised
d. If they don't show upfront that they are meeting the capital requirement for BBPOUs, their application will be rejected
Answers :
1-c, 2-a, 3-a, 4-c, 5-c
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