Highlights
BBPS is an integrated system of bill payment, which provides online bill payment service to the customers.
It is an interoperable platform for bill payment.
BBPS system works under NPCI.
New Delhi. Now Non Resident Indians (NRIs) will soon be able to pay bills related to their family members living in the country with the help of Bharat Bill Payment System ie BBPS. NRIs will now be able to pay for facilities like electricity, water and school, college fees through BBPS on behalf of their family members in India.
what is bbps
Bharat Bill Payment System is an integrated system of bill payment, which provides online bill payment service to the customers. It is an interoperable platform for bill payment. This system works under the National Payments Corporation of India (NPCI). About 20,000 billing units are connected to BBPS. There are 80 million transactions on this system on a monthly basis.
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RBI governor announced
Announcing the results of the monetary review meeting, Reserve Bank Governor Shaktikanta Das said on Friday that BBPS has changed the bill payment experience of users in India. Now the system of cross-border bill payment is also being started in this.
Senior citizens will benefit greatly
The governor said, “With this NRIs will be able to pay electricity, water bills on behalf of their families in India. Along with this, he will also be able to pay the fees related to education.
RBI will issue necessary instructions soon
The central bank said in a statement that with this decision, bills of other billing units connected to the BBPS platform will also be able to be paid. The central bank will soon issue necessary instructions in this regard.
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Tags: NPCI, NRI, RBI, Reserve Bank of India
FIRST PUBLISHED : August 05, 2022, 17:23 IST
