RBI Invites Applications for Bharat Bill Payment Units
Oct 22, 2015: RBI has asked applications from the entities which are currently involved in bill payments for functioning as Bharat Bill Payment System Operating Units (BBPOUs) under the BBPS (Bharat Bill Payment System).
Bharat Bill Payment System will be an authenticated payment system. It will be administered by NPCI – National Payment Corporation of India.
BBPS will keep the track of all payments being made in the country. It includes cash payments to utilities, telcos among others, and schools.
RBI has generated a circular. According to that circular, BBPOUs will work as an entity that will collect the payments of all everyday services such as water, electricity, gas, DTH, telephone, etc