The change has been introduced as these banking institutions are not integrated with the Bharat Bill Payment System (BBPS) platform.
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The Reserve Bank of India has mandate that all credit outstanding repayments must be routed through the Bharat Bill Payment System (BBPS)- managed by the National Payments Corporation of India (NPCI). The revised norms to streamline the process of bill payments is applicable from 1 July 2024.
The change has been introduced as these banking institutions are not integrated with the Bharat Bill Payment System (BBPS) platform.
Developed by the National Payments Corporation of India (NPCI), BBPS is a unified platform designed to handle all forms of bill payments across the...
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