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.
Harsh Singh, an Indian judoka, has created history as he became the first Indian to…
The Union Cabinet, which chaired by Prime Minister Narendra Modi, has approved the restructured Khelo…
Asmita Dey made history by becoming the first Indian to win a gold medal in…
The Union Cabinet chaired by Honorable Prime Minister Narendra Modi has given the approval to…
The Union Cabinet chaired by Honorable Prime Minister Narendra Modi passed ‘Samudra Manthan,’ the National…
The Union Cabinet has given its nod to the extension of the Pradhan Mantri Kisan…