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The RBI has put in a revised regulatory framework - Bharat Bill Payment Systems Directions, 2024, which will be applicable to NPCI Bharat Bill Pay Limited (NBBL - a wholly owned subsidiary of National Payments Corporation of India); and all ...
"These directions seek to streamline the process of bill payments, enable greater participation, and enhance customer protection among other changes,” RBI said.
The newly launched rule will come into effect from April 1, 2024. Read on to find out what it is, what it means, and more.
New service will allow vendors to raise bills on their buyers through the bill payment platform and payments can be made in one go or multiple tranches through cash or digital means