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NPCI gets RBI go-ahead for Bharat Bill Payment Central Unit

The initiative will provide a major push to digital payments

Romita Majumdar  |  Mumbai 

Photo Credit: Twitter
Photo Credit: Twitter

has received final authorisation from to function as the Central Unit (BBPCU) and System (BBPS).

It is a one-stop payment platform for all bills, providing an interoperable and accessible "anytime anywhere" bill to all across with certainty, reliability and safety of "Nearly 45 crore bills which comprises of Electricity, Telecom, DTH, Water and Gas are permitted under BBPS.

This initiative will provide a major push to as it is a big step forward in formalising the bill payment system in the country," said A P Hota, MD & CEO,

The approval process consisted of almost a yearlong cycle of streamlining business and technology processes till was satisfied with the performance of eight participating BBPS units.

Twenty-Four units have received clearance to operate as the Bharat Bill Payments Operating Unit (BBPOU) spread across three public sector banks (Bank of Baroda, Union Bank of and Indian Overseas Bank), 10 private banks, 5 Cooperative Banks and 6 non-bank biller aggregators.

Currently, 42 large billers in 5 utility sectors have been on-boarded. Major public sector banks including State Bank of (SBI) are still under certification said in a statement. “The real impact would be visible only when joins," added Mr. Hota.

First Published: Fri, July 28 2017. 19:50 IST