RBI Governor introduced Bharat Bill Pay, UPI circle

Art Times, August 28, 2024: Reserve Bank of India (RBI) Governor Shaktikanta Das introduced two new digital payment products with new technology at the Global FinTech Festival (GFF) 2024 held in Mumbai. They are Bharat Bill Pay (BBPS) and UPI Circle. These are designed by the National Payments Corporation of India (NPCI). Bharat BillPay is designed to facilitate business transactions, streamlining business-to-business (B2B) transactions across various ERP and accounting platforms, while UPI Circle enables delegated payments to users. Both of these will help further improve the security and efficiency of India’s digital payment system, NPCI said. These were unveiled in the presence of Infosys Non-Executive Chairman, NPCI Advisor Nandan Nilekani and NPCI Non-Executive Chairman, Independent Director Ajay Kumar Chaudhary at the FinTech Festival.