Good news, for the citizen of India who staying in abroad and transfers their money for household bills like electricity and other bills. On 5th August RBI proposed BBPS (Bharat Bill Payment System) which is owned by NPCI Bharat BillPay Ltd. (NBBL) to accept cross-border inward payments.
This will facilitate the non-resident Indians to make payments for their utilities, education other bill payments. Using the BBPS platform in an Interoperable manner NRI can pay the bills of any biller.
BBPS and other platforms which are currently available in India are accessible only to Indian residents. After implementation of such facilities, NRI can make utility, education and other bill payments.
The new interoperable platform will introduce by BBPS will change the payment experience. The necessary instructions regarding the Interoperable platform will issue by the central bank.
Currently, Bharat Bill Payment System (BBPS) offers utility bills and education-related payments in India. These services enjoy by many Indian residents. The RBI’s initiative for cross-border inward payments will change the payment experience. Reliable bill payment centralized customer grievance redress mechanism and uniform customer convenience fee while paying bills.
The facilities are now enjoyed not only by Indian residents but also by Indians overseas. BBPS started as an interoperable platform for repetitive bill payments. Facilities covered bills of five categories viz. Direct to Home (DTH), Electricity, Gas, Telecom and Water
BBPS open the gateway to easy payment option for every Indian, anytime, anywhere digital payment. Press release of RBI regarding the interoperable payment integration on 5th August. For more information about this press release click here