21. BBPS promotes the digitization of bill payments and reduces cash dependency.
a) True
b) False
Answer: a) True
22. BBPS ensures timely and accurate posting of bill payments to the biller’s system.
a) True
b) False
Answer: a) True
23. Which of the following organizations governs and regulates the BBPS ecosystem?
a) Reserve Bank of India (RBI)
b) Ministry of Finance, Government of India
c) National Payments Corporation of India (NPCI)
d) Securities and Exchange Board of India (SEBI)
Answer: c) National Payments Corporation of India (NPCI)
24. BBPS provides a mechanism for consumers to redress their grievances against billers.
a) True
b) False
Answer: a) True
25. Which of the following parties is NOT involved in BBPS transactions?
a) Billers
b) Banks
c) Bill collection agents
d) Customers
Answer: c) Bill collection agents
