Wednesday, May 27, 2020 | Last Update : 04:13 AM IST

63rd Day Of Lockdown

Maharashtra52667157861695 Tamil Nadu170828731119 Gujarat144686636888 Delhi140536771276 Rajasthan73004056167 Madhya Pradesh68593571300 Uttar Pradesh64973660169 West Bengal38161414278 Andhra Pradesh2886189256 Bihar273773313 Karnataka218270544 Punjab2081191340 Telangana1920116456 Jammu and Kashmir166880923 Odisha14386497 Haryana121380216 Kerala8975326 Assam549634 Jharkhand4051484 Uttarakhand349584 Chhatisgarh292670 Chandigarh2661874 Himachal Pradesh223634 Tripura1981650 Goa67190 Puducherry49170 Manipur3640 Meghalaya15121 Nagaland300 Arunachal Pradesh210 Mizoram110 Sikkim100

RBI to cover all repetitive bill payments under Bharat Bill Payments System

PTI
Published : Aug 7, 2019, 3:00 pm IST
Updated : Aug 7, 2019, 3:00 pm IST

A detailed guideline in this regard will be issued by September-end.

In order to leverage the advantages of the BBPS and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis,
 In order to leverage the advantages of the BBPS and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis," the RBI said.

Mumbai: The RBI has decided to cover all repetitive bill payments under the Bharat Bill Payment System (BBPS) and a detailed guideline in this regard will be issued by September-end.

Currently, repetitive bill payments cover five segments -- direct-to-home, electricity, gas, telecom and water bills under the BBPS -- which is an inter-operable platform.

"In order to leverage the advantages of the BBPS and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis," the RBI said in 'Statement on Developmental and Regulatory Policies' post the monetary policy review.

Apart from digitisation of cash-based bill payments, these segments would also benefit from the standardised bill payment experience for customers, centralised customer grievance redressal mechanism, prescribed customer convenience fee and the like, the Reserve Bank of India said.

The detailed instructions in this regard will be issued by the end of September 2019.

It further said that in order to diversify risks and encourage innovation and competition, the RBI has decided to offer 'on tap' authorisation to entities desirous to function/operate/provide platforms for Bharat Bill Payment Operating Unit (BBPOU); Trade Receivables Discounting System (TReDS) and White Label ATMs (WLAs).

The on-tap facility is aimed at encouraging more players to participate in pan India payment platform.

Tags: reserve bank of india, rbi, monetary policy committee, bharat bill payment system, white label atm
Location: India, Maharashtra, Mumbai (Bombay)