RBI allows prepaid mobile recharges through Bharat Bill Payment System

According to RBI, The scope of the Bharat Bill Payment System (BBPS) will be expanded by August 31 this year by adding ‘mobile prepaid recharges as a biller category. BBPS is an interoperable platform for recurring bill payments operated by the National Payments Corporation of India.

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In May, 213.59 million bill payment transactions were carried out through the BBPS channel. BBPS was started in 2014 as a platform for repetitive bill payments.

Important takeaways for all competitive exams:

• National Payments Corporation of India MD & CEO: Dilip Asbe.
• National Payments Corporation of India Headquarters: Mumbai.
• National Payments Corporation of India Founded: 2008.

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