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Published on: September 18, 2019 3:00 PM
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In a consumer friendly initiative, the RBI on 16 Sept expanded the scope of Bharat Bill Payment System (BBPS) to cover all repetitive bill payments, which may include school fees, insurance premiums and municipal taxes.
Currently, the facility of payment of recurring bills through BBPS is available only in five segments -- direct to home (DTH), electricity, gas, telecom and water.
What is BBPS?
BBPS is an integrated bill payment system which offers interoperable bill payment service to customers online as well as through a network of agents on the ground.
The system will provide multiple payment modes and instant confirmation of payment.
BBPS functions under the aegis of National Payments Corporation of India (NPCI).
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