Credit Card Update: Why HDFC, Axis Bank, Other Banks Customers Can't Make Credit Card Bill Payments Using CRED, PhonePe, Paytm? EXPLAINED
The Reserve Bank of India has mandate that all credit outstanding repayments must be routed through the Bharat Bill Payment System (BBPS)- managed by the National Payments Corporation of India (NPCI). The revised norms to streamline the process of bill payments is applicable from 1 July 2024.