Mumbai: Now Non Resident Indians (NRIs) will be able to pay directly for bills in India. Reserve Bank of India has launched Bharat Bill Payment System or BBPS for this. RBI Governor Shaktikanta Das announced this.
Now expats can do bill payments for their families back home using the BBPS. This will help senior citizens in India whose children are NRIs.
‘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,’ said the RBI’s Statement on Developmental and Regulatory Policies.
Bharat Bill Payment System (BBPS) is owned and run by NPCI Bharat BillPay Ltd (NBBL). At present, it has about 20,000 billers on its system. It offers an interoperable platform for standardised bill payments. BBPS currently processes over 80 million transactions monthly.
Consumers can use BBPS to pay their electricity, telecom, direct to home (D2H), gas, water, insurance premium, school fees, mutual fund purchase, credit card bill payment, fastag recharge, local taxes, and other payments. Users can pay their bills using payment channels like the Internet, net banking, mobile banking, mobile wallet, automatic teller machine systems (ATMs), bank branches, agents, and others.