RBI allows NRI to pay utility bills through Bharat Bill Payment System

Tags: Economy/Finance

The Reserve Bank of India (RBI) has allowed the Non Resident Indian (NRI) to pay their utility bills in India through the Bharat Bill Payment System (BBPS) from 15 September 2022. 

Till now only resident Indians were allowed to use the BBPS.

It means that the Non-Resident Indians (NRI) will be able to make utility, education and other bill payments for their families in India by using the Bharat Bill Payment System (BBPS).

The circular was issued by the RBI on 15 September 2022.

IMPORTANT FACTS -

What Is BBPS :

• It is a wholly owned subsidiary of the NPCI (National Payment Corporation of India).
• It offers interoperable and accessible bill payment service to consumers via digital (bank channels) as well as through a network of agents & bank branches.
• These banks or agents are called as operating units of the Bharat Bill Payment System. 
• Bharat Bill Pay offers all recurring payments like electricity, telecom, DTH, Gas, water bills, Insurance, Loan repayments, Education fees, FasTag Recharge, Municipal taxes, Housing society, Subscription fees etc. at one single window.
• "National Payments Corporation of India (NPCI) has been authorised by the Reserve Bank of India (RBI) as the Bharat Bill Payment Central Unit (BBPCU).  
• The BBPCU undertakes clearing and settlement activities related to transactions routed through BBPS."