There were 110 crore users of prepaid phone service in India in December 2020.
After this decision of RBI, crores of users of prepaid phone service in the country will be helped. There were 110 crore users of prepaid phone service in India in December 2020.
New Delhi. The Reserve Bank of India (RBI) said that while expanding the scope of Bharat Bill Payment System (BBPS), the facility of ‘Mobile prepaid recharge’ will be added to it as a biller. This can help crores of users of prepaid phone service in the country. In September 2019, expanding the scope and scope of BBPS, all categories of billers (except mobile prepaid recharge) were added as eligible participants on a voluntary basis, as a part of it.
What was the rule before?
Earlier, the facility of paying recurring bills through BBPS was available only in five segments which include Direct to Home (DTH), Electricity, Gas, Telecom and Water. In a circular, the Reserve Bank said, with regular enhancement in different biller categories and in order to facilitate the mobile prepaid customers to have more options for making recharges, BBPS will be included in the biller category ‘Mobile Prepaid Recharge’ on a voluntary basis. ‘ It was decided to approve.
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There were 110 crore users of prepaid phone service in India in December 2020. The Reserve Bank said that it will be implemented on or before August 31. BBPS is an integrated system of bill payment which provides online interoperable bill payment service to the customers as well as offline through a network of agents. BBPS works under the National Payments Corporation of India (NPCI).