NRIs can pay utility bills using Bharat Bill Payment System: RBI
The Bharat Bill Payment System will enable Non-Resident Indians to undertake bill payments for utility, education, and other such payments on behalf of their families in India.
MUMBAI: Non-Resident Indians will soon be able to use Bharat Bill Payment System to pay utility bills and education fees on behalf of their family members in India, the Reserve Bank said on Friday.
The Bharat Bill Payment System (BBPS) is an interoperable platform for standardised bill payments.
Over 20,000 billers are part of the system, and more than 8 crore transactions are processed on a monthly basis.
RBI Governor Shaktikanta Das said that BBPS has transformed the bill payment experience for users in India and it is now proposed to enable the system to accept cross-border inward bill payments.
"This will enable Non-Resident Indians (NRIs) to undertake bill payments for utility, education and other such payments on behalf of their families in India. This will greatly benefit the senior citizens in particular," he said while announcing the bi-monthly monetary policy.
In a statement, the RBI said the decision will also benefit payment of bills of any biller onboarded on the BBPS platform in an interoperable manner.
The central bank will be shortly issuing necessary instructions in this regard.