RBI enables cross-border payments to Bharat Bill Payment System

The Reserve Bank of India (RBI) has enabled the Bharat Bill Payment System (BBPS) to process cross-border payments for Non-Resident Indians (NRIs). After enabling the inbound payment process, NRIs no longer need to send money to the India-based accounts of their family members to pay utility bills in India. Now, they will be able to pay these utility bills directly through BBPS. It was earlier reported that RBI is planning to enable inbound payments.

In a statement issued on Thursday, reserve Bank of India Announced to allow NRIs to pay utility bills and education fees of their family members in India bbpsa payment portal of National Payments Corporation of India (NPCI),

NPCI is an initiative taken by RBI and Indian Banks̵

7; Association (IBA) digital payment and settlement system in the country.

RBI Governor Shaktikanta Das created An announcement in this regard last month. Subsequently, he said, “It will enable Non-Resident Indians (NRIs) to make bill payments for utilities, education and other such payments on behalf of their families in India.”

To recall, BBPS is an interoperable platform for making payments and paying bills. The system reportedly has over 20,000 billers part of the system, who are responsible for over 8 crore transactions every month.

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