NEW DELHI: In a move in favor of seniors, the RBI On Friday it allowed non-resident Indians to pay for electricity and water bills and other utility bills in india directly through the Bharat bill payment system.
“To make it easier for Non-Resident Indians (NRIs) to make utility, education and other bill payments on behalf of their families in India, it is proposed to allow this BBPS to accept incoming cross-border payments. This also benefits the payment of bills from all billers that are interoperably integrated on the BBPS platform. Necessary instructions will be issued shortly,” RBI said in a statement today.
BBPS is a payment system designed by RBI and operated by NPCI. It is a one-stop all-bill payment ecosystem that offers all customers across India an interoperable and accessible “anytime, anywhere” bill payment service with certainty, reliability and security of transactions.
Over 20,000 billers have been added to the system and more than eight million transactions are processed monthly.
BBPS is currently only accessible to residents of India.
“RBI’s proposal to enable the Bharat Bill Payment System (BBPS) to offer incoming cross-border payments is a welcome initiative. This interoperable platform, which already processes over eight million transactions monthly, will transform the bill payment experience for Indians living abroad and will be of great benefit to the family members of NRIs, especially seniors living in India. NRIs can now take advantage of various offerings from BBPS such as: B. A reliable bill payment experience, a centralized mechanism for resolving customer complaints and a unified customer fee while paying utility bills, education-related payments and other cross-border transactions,” said Muralidharan Srinivasan, Head of Payments, APMEA region, FIS.