Possibility to pay bills of family members in home country through BBPS
Non-resident Indians (NRIs) will soon be able to pay utility bills and education fees on behalf of their family members back home through the Bharat Bill Payment System (BBPS). RBI has taken this decision as part of monetary policy review. BBPS is a specially created platform for payment of utility bills like Electricity, Gas, DTH. More than 20,000 government and private institutions are providing facility for bill payments through this interoperable platform. More than 8 crore payment transactions per month are done through this platform.
The RBI Governor said that it is proposed to modernize BBPS as a system for receiving bill payments from abroad soon. This will greatly benefit the senior citizens. Because, lakhs of Indian youths have settled abroad. With the latest proposal of RBI, the process of paying the utility bill of their parents in the country is going to be easier.