RBI opens Bharat Bill Payment System for NRIs to pay utility bills 

RBI opens Bharat Bill Payment System for NRIs to pay utility bills 

  • The Reserve Bank of India (RBI) has decided to enable Bharat Bill Payment System (BBPS) for non-resident Indians (NRIs), to accept cross-border inward payments.
  • This will allow NRIs to pay any bill, like insurance, electricity, and other utilities, for their family in India.
  • They will get access to the full suite of more than 20,000 bill collections available on BBPS, which they may not otherwise have access to.
  • Also, NRIs will no longer need to have an NRE account in India for making bill payments.
  • Earlier the system was accessible to people residing in India only.
  • This move will ease bill payment for many families, especially senior citizens who find it difficult to make their payments and whose children reside abroad.
  • BBPS is owned and operated by the National Payments Corporation of India (NPCI).
  • The payment modes options at BBPS are cash, cards (credit, debit & prepaid), IMPS, UPI, AEPS, internet banking & UPI, wallets.

Source: Business Standard

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