The Reserve bank of India (RBI) proposed to enable BBPS to accept cross-border inward payments on August 5
It is easy for Non-Resident Indians (NRIs) to make utility, education and other bill payments for their families in India by using the Bharat Bill Payment System (BBPS).
In a notification issued on Thursday, the RBI said: “…it has been decided to allow foreign inward remittances received under the Rupee Drawing Arrangement (RDA), to be transferred to the KYC compliant bank account of the biller (beneficiary) through Bharat Bill Payment System (BBPS).”
The Reserve bank of India (RBI) had proposed to enable BBPS to accept cross-border inward payments on August 5. The bank had said it would issue necessary instructions soon. BBPS is owned and operated by NPCI Bharat BillPay Ltd. (NBBL)
“BBPS is currently accessible only for residents in India. To facilitate Non-Resident Indians (NRIs) undertake utility, education and other bill payments on behalf of their families in India, it is proposed to enable BBPS to accept cross-border inward payments. This will also benefit payment of bills of any biller onboarded on the BBPS platform in an interoperable manner,” RBI said in its bi-monthly Statement on Developmental and Regulatory Policies.
The RBI said that BBPS has transformed the bill payment experience in the country by offering an interoperable platform for a standardised bill payment experience, centralised customer grievance redress mechanism, uniform customer convenience fee, etc.
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