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RBI allows prepaid mobile recharges through Bharat Bill Payment System

RBI allows prepaid mobile recharges through Bharat Bill Payment System_50.1

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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