The Reserve Bank of India (RBI) proposed to allow non-resident Indians (NRIs) to make utility, education and other bill payments on behalf of their family members living in India. The payments will be processed through Bharat Bill Payment System’s (BBPS) cross-border inward bill payments facility.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
BBPS is a payments system conceptualized by RBI and run by National Payments Corporation of India(NPCI) to help customers make bill payments both digitally and physically, say, through bank branches and business correspondents.
Experts said the move will be convenient for NRIs who make regular payments in India. The move was announced by RBI governor Shaktikanta Das in his monetary policy statement. The central bank will soon be issuing instructions to put this into effect.
A brief yet poignant scene in the hit series Family Man 3 has opened a…
India is often called the Land of Festivals because it celebrates countless festivals throughout the…
Simone Tata, a transformative figure in India’s business landscape and the step-mother of Ratan Tata,…
IndiGo Airlines is one of India’s most popular and trusted airlines. It is known for…
Many countries have different names in different languages. One such country is Germany, which is…
Northeast India is a region full of beautiful landscapes, green forests and rich culture. A…