New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    India is going to expand its presence for cross-border

    bill payments in the UK through the Bharat Bill Payment System (BBPS).In how many countries in the Middle East has it been conceptualized earlier?
    A 4 Correct Answer Incorrect Answer
    B 5 Correct Answer Incorrect Answer
    C 3 Correct Answer Incorrect Answer
    D 7 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    India is set to expand its presence for cross-border bill payments in the UK through the Bharat Bill Payment System (BBPS) after having operationalized it in four countries in the Middle East earlier.     With this, non-resident Indians would be able to make use of the system for direct bill payments through multiple modes such as Unified Payments Interface or UPI, National Electronic Funds Transfer or NEFT, wallets, and debit and credit cards.

    Practice Next

    Relevant for Exams: