The Reserve bank of India (RBI) proposed to enable BBPS to accept cross-border inward payments on August 5
Non-Resident Indians will be able to make utility, education and other bill payments for their families in India by using the Bharat Bill Payment System (BBPS). The Reserve bank of India (RBI) proposed to enable BBPS to accept cross-border inward payments on August 5.
The central bank will 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 central bank will issue necessary instructions soon. BBPS is owned and operated by NPCI Bharat BillPay Ltd. (NBBL). 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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