RBI granted in-principle approval to NPCI to function as the central unit for Bharat Bill Payment Systems

The Reserve Bank of India has decided to grant in principle approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS.

About Bharat Bill Payment System (BBPS)
BBPS is an integrated bill payment system, will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of“anytime anywhere” bill payment to customers.

• The present scope of BBPS will include utility bill payments, such as, electricity, water, gas, telephone and Direct-to-Home (DTH).
• The Operating Units will function as entities facilitating collection of bills/repetitive payments.

Reserve Bank of India had issued guidelines in 2014 for setting up the Bharat Bill Payment System (BBPS) wherein it was indicated that NPCI will function as BBPCU and there could be multiple Bharat Bill Payment Operating Units-BBPOUs (Operating Unit) under BBPS.