Payments News


NRIs Can Pay Utility Bills Using Bharat Bill Payment System (India)

“The Indian diaspora will soon be able to pay utility bills and other recurring payments like fees using the Bharat Bill Payment System (BBPS), the Reserve Bank announced on Friday. The RBI made it clear that the move is not driven by the need to attract more remittances at a time when the domestic currency is under pressure, nor it is the result of its efforts to minimise the spreads made by banks while converting currency. 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.”