The Reserve Bank of India (RBI) has expanded the scope of Bharat Bill Payment System. This will facilitate in doing prepaid mobile recharge.
New Delhi, June 15: If you are a prepaid phone user then this is important news for you. The Reserve Bank of India (RBI) has expanded the scope of Bharat Bill Payment System to include mobile prepaid recharge in the form of billers. This is likely to help billions of users of prepaid phone services in the country. Expanding the scope of BBPS in September 2019, it includes all categories of billers (except mobile prepaid recharge) who are billed monthly (billing company) as eligible participants on a voluntary basis.
what were the rules before
Earlier the facility of bill payment through BBPS every month or after a certain period was available only in 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 ‘Mobile Prepaid 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 options for mobile recharge.” to. prepaid customers.”
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Prepaid phone savete 110 quota users
There were 110 crore users of prepaid phone service in India in December 2020. RBI has said that it will be implemented on or before August 31. BBPS is an integrated bill payment system that provides interoperable bill payment service online as well as offline through a network of agents to the customers. This means that we can use this system to pay the monthly bills of our daily use services. Like electricity bill, water bill. BBPS works under the National Payments Corporation of India (NPCI).
India has the largest number of prepaid phone users. Therefore, this decision of the Reserve Bank will benefit the users. Also, this decision will speed up transactions and save time. Moreover, the availability of Bharat Bill Payment System (Bharat Bill Payment System) will bring relief to users in rural areas as it will reduce hassles. Now, if customers pay their regular bills from an app, the new RBI rules will make it possible for them to pay in prepaid mobile from the same app.
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