Recently, the Reserve Bank of India proposed to allow Bharat Bill Payment System (BBPS) to process cross-border inbound bill payments. This will help the Non-resident Indians (NRIs) who face challenges in paying utility bills in India. If proposal is accepted, it will benefit the NRIs.

Other significance of the move include;

• Cross-border inward payments through BBPS will drive the Indian economy.
• It will provide a broader market approach for BBPS and boost forex inflow to India.
• It will further promote adoption of BBPS by global bill payment ecosystems.