Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\n\u201cIn order to leverage, the advantages of the Bharat Bill Payment System and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis,\u201d RBI said in its statement on Regulatory and Developmental Policies. Apart from digitisation of cash-based bill payments, these segments would also benefit from the standardised bill payment experience for customers, centralised customer grievance redressal mechanism and prescribed customer convenience fee, among others, the central bank said. Detailed instructions in this regard will be issued by the end of September 2019.<\/p>\n\n\n\n
In order to benefit from diversification of risk as also to\nencourage innovation and competition, the RBI said it has decided to offer\non-tap authorisation to entities desirous to provide platforms for the Bharat\nBill Payment Operating Unit (BBPOU),the Trade Receivables Discounting System\n(TreDS) and white label ATMs (WLAs). Instructions to this effect will also be\nissued by the end of September 2019.<\/p>\n\n\n\n
The RBI also announced the creation of a central payments\nfraud information registry. At present, there is a mechanism in place for banks\nto report all banking frauds to the Central Fraud Monitoring Cell of the RBI.<\/p>\n\n\n\n
\u201cWith the digital payment ecosystem making substantial\nprogress in terms of growth of payment infrastructure as well as volume and\nvalue of digital payment transactions, fraud risk monitoring and management by\nthe stakeholders have assumed importance,\u201d the RBI said in the statement,\nadding that the Payment System Vision 2021 also envisages a framework for\ncollecting data on frauds in the payment systems.<\/p>\n\n\n\n
\u201cIn order to carry forward these efforts and ensure quick\nand systemic responses, it is proposed to facilitate the creation of a Central\nPayment Fraud Registry that will track these frauds,\u201d the central bank said.\n\nPayment system participants will be provided\naccess to this registry for near-real time fraud monitoring. The aggregated\nfraud data will be published to educate customers on emerging risks. A detailed\nframework in this regard will be put in place by the end of October 2019.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
The central bank has also decided to expand biller categories for Bharat Bill Payment System (BBPS). The BBPS, an interoperable platform for repetitive bill payments, currently covers five segments \u2014 direct-to-home (DTH), electricity, gas, telecom and water bills. Daily Current Affairs Quiz 2019 \u201cIn order to leverage, the advantages of the Bharat Bill Payment System […]<\/p>\n","protected":false},"author":13,"featured_media":4491,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[379,64],"offerexpiration":[],"class_list":["post-4490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-bharat-bill-payment-system","tag-reserve-bank-of-india-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4490"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4490\/revisions"}],"predecessor-version":[{"id":4492,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4490\/revisions\/4492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4491"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4490"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=4490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}