Thursday, August 11, 2022

Soon, NRIs can pay bills of their families in India using Bharat Bill Payment System: RBI

The Reserve bank of India (RBI) proposed to enable BBPS to accept cross-border inward payments on August 5

PRAVASISAMWAD.COM

 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.

******************************************************

Readers

These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.

Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world.  We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.

Please help us to keep our journalism independent and free.

In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.

For more information: pravasisamwad00@gmail.com

Tirthankar Ghosh
Tirthankar Ghosh is a senior journalist and presently Managing Editor, Newsline Publications. He has also been writing for well over 15 years for the New York-based Air Cargo News Flying Typers.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

EDITOR'S CHOICE