Good News: NRIs Can Soon Pay Bills Of Their Families In India; Here’s How
New Delhi: Non-resident Indians (NRIs) will soon be able to make utility, education and other bill payments online for their families in India.
This will be possible through Bharat Bill Payment System (BBPS), which Reserve Bank of India (RBI) has proposed to enable so that it can accept cross-border inward payments.
BBPS is owned and operated by NPCI Bharat BillPay Ltd. (NBBL).
“BBPS is currently accessible only for residents in India. To facilitate Non-Resident Indians (NRIs) undertake utility, education and other bill payments on behalf of their families in India, it is proposed to enable BBPS to accept cross-border inward payments. This will also benefit payment of bills of any biller onboarded on the BBPS platform in an interoperable manner,” RBI stated in its bi-monthly Statement on Developmental and Regulatory Policies.
The necessary instructions will be issued by the central bank soon.
According to RBI, BBPS has transformed bill payment system in India by offering an interoperable platform for a standardised bill payment experience, centralised customer grievance redress mechanism, uniform customer convenience fee, etc.
“Over 20,000 billers have been onboarded on the system and more than eight crore transactions are processed on a monthly basis,” the statement said.