In what can be good news for millions of prepaid mobile connection holders across the country, the Reserve Bank of India (RBI) on Monday allowed prepaid mobile recharge to come under the ambit of Bharat Bill Payment System (BBPS).
The RBI has informed all scheduled commercial banks, cooperative banks, payment banks, National Payments Corporation of India (NPCI) and also Bharat Bill payment system provider, that mobile prepaid recharges have been included under its jurisdiction.
The decision will be implemented on or before August 31, 2021, the central bank said.
BBPS is an interoperable platform for recurring bill payments operated by NPCI.
BBPS started in 2014 as a platform for repetitive bill payments, it covers payment of bills of five categories namely direct to home (DTH), electricity, gas, telecom and water.
“With consistent growth in different biller categories and to facilitate mobile prepaid customers with more options to recharge, it has been decided to permit ‘mobile prepaid recharges' as a biller category in BBPS, on a voluntary basis. This will be implemented on or before August 31, 2021,” the RBI said in a statement.
It provides standardised bill payment experience, centralised customer grievance redressal mechanism, prescribed customer convenience fee and availability of digital payment options.