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

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

Paytm Payments Bank said it has received final approval from the Reserve Bank of India 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 of electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bills and municipal taxes. So far, Paytm Payments Bank Ltd (PPBL) has been undertaking this activity under in-principle authorisation from RBI.