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BBPS inward payments to deepen cross-border payment ecosystem in India

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

RBI Governor Shaktikanta Das
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Raghav Aggarwal New Delhi
The Bharat Bill Payment System (BBPS) will soon be enabled to accept cross-border inward payments in India. The Reserve Bank of India (RBI) governor Shaktikanta Das announced along with other decisions of the monetary policy committee (MPC), including a repo rate hike by 50 basis points, on Friday.

"This will enable Non-Resident Indians (NRIs) to undertake bill payments for utility, education and other such payments on behalf of their families in India," Das said.

The announcement is being seen as a way to deepen the cross-border payment ecosystem in India. "BBPS change facilitating NRIs to make payments of bills in

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First Published: Aug 05 2022 | 4:50 PM IST

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