August 5, 2022 5:15 PM

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RBI proposes to enable BBPS to accept cross-border inward payments

Non-Resident Indians will soon be able to make utility, education and other bill payments for their families in India by using the Bharat Bill Payment System – BBPS. <br />''<br />''The Reserve bank of India – RBI today proposed to enable BBPS to accept cross-border inward payments.<br />''<br />''In its bi-monthly Statement on Developmental and Regulatory Policies, RBI said that BBPS is currently accessible only for the residents of India. To facilitate the 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 the payment of bills of any biller onboarded on the BBPS platform in an interoperable manner.<br />''<br />''RBI has also decided to bring Credit Information Companies under the internal Ombudsman framework.<br />''<br />''<br />

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