Description

RBI Expand the Scope of Bharat Bill Payment System (BBPS)

Date - 15th Jun 2021

The Reserve Bank of India has expanded the scope of the Bharat Bill Payment System (BBPS), which will take effect on August 31, 2021. The scope of BBPS has now been expanded to include “mobile prepaid top-ups” as a biller category. This move will benefit millions of prepaid phone subscribers across India.

The scope and coverage of the BBPS were expanded in September 2019 to include all categories of recurring billing issuers as eligible volunteers. It did not include prepaid mobile top-up counters. Until 2019, the ability to pay recurring bills through the BBPS was only available in five sectors, namely Direct To Home (DTH), Gas, Electricity, Water and Communications.

Bharat Bill Payment System (BBPS)

BBPS, operated by the National Payments Corporation of India (NPCI), is an integrated bill payment system offering customers interoperable bill payment services online and through a network of agents on the ground. It provides multiple payment methods and instant payment confirmation.

The NPCI is the parent organization that operates the retail payment and settlement systems owned by the Reserve Bank of India. this non-profit organization was founded in December 2008. It is registered under section 8 of the Companies Act 2013.

For more Updates and Information - Click here 

For access to more than 10,000 Colleges - Click here

For Latest Sarkari Jobs - Click here

For Comprehensive Preparation of Competitive Exams - Click here

For School Studies and Exams Preparation across Eight Boards - Click here