- Paytm Payments Bank has received final approval from RBI to operate as a Bharat Bill Payment Operating Unit (BBPOU).
- Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services for electricity, phone, gas insurance, loan repayments, credit card bill, and municipal taxes.
- BBPS is owned by the National Payments Corporation of India.
- So far, Paytm Payments Bank was undertaking this activity under in-principle authorization from RBI.
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