The Reserve Bank of India (RBI) has expanded the scope of Bharat’s bill payment system. This will facilitate prepaid mobile rechargers.
New Delhi, June 15: If you are a prepaid phone user, this is important news for you. The Reserve Bank of India (RBI) has expanded the scope of Bharat’s bill payment system to include mobile prepaid recharge in the form of bill issuers. This is likely to help billions of prepaid phone service users in the country. Expanding the scope of BBPS in September 2019, it includes all categories of biller (except mobile prepaid recharges) who are billed monthly (billing company) as eligible participants on a voluntary basis.
What were the previous rules?
Previously, the facility of paying bills through BBPS every month or after a certain period of time was available in only five departments. These include direct to home (DTH), electricity, gas, telecommunications, and water. In a circular, the Reserve Bank said: “BBPS has decided to offer ‘Prepaid Mobile Recharge’ on a voluntary basis in BBPS Biller mode, as there is a regular increase in the variety of biller types and to provide more recharge options to mobile devices. prepaid customers “.
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Prepaid phone savete 110 quota users
India had 110 million million prepaid phone service users in December 2020. The RBI has said it will be rolled out on or before August 31. BBPS is an integrated bill payment system that provides customers with an interoperable online and offline bill payment service through a network of agents. This means that we can pay monthly bills for our daily use services using this system. Like electricity bill, water bill. BBPS operates under the National Payments Corporation of India (NPCI).
India has the highest number of prepaid phone users. Therefore, this decision of the Reserve Bank will benefit users. In addition, this decision will speed up transactions and save time. Also, the availability of Bharat Bill Payment System (Bharat Bill Payment System) will bring relief to users in rural areas as it will reduce hassle. Now, if customers pay their regular bills from an app, the new RBI rules will allow them to pay on prepaid mobile phones from the app itself.
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