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

The initiative will provide a major push to digital payments

National Payments Corporation of India has received final authorisation from Reserve Bank of India to function as the Bharat Bill Payment Central Unit (BBPCU) and Bharat Bill Payment System (BBPS).

It is a one-stop payment platform for all bills, providing an interoperable and accessible "anytime anywhere" bill payment service to all customers across India with certainty, reliability and safety of transactions. "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 digital payments as it is a big step forward in formalising the