BBPS inward payments to deepen cross-border payment ecosystem in India

Bharat Bill Payment System (BBPS), under the aegis of the RBI, allows recurring utility bill payments through an integrated platform

The Bharat Bill Payment System (BBPS) will soon be enabled to accept cross-border inward payments in India. The Reserve Bank of India (RBI) governor Shaktikanta Das announced along with other decisions of the monetary policy committee (MPC), including a repo rate hike by 50 basis points, on Friday.

"This will enable Non-Resident Indians (NRIs) to undertake bill payments for utility, education and other such payments on behalf of their families in India," Das said.

The announcement is being seen as a way to deepen the cross-border payment ecosystem in India. "BBPS change facilitating NRIs to make payments of bills in