In December 2020, there were 110 crore users of prepaid phone service in India.
After this decision of RBI, crores of users of prepaid phone service in the country will get help. In December 2020, there were 110 crore users of prepaid phone service in India.
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’ in the form of biller will be added to it. 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.
what was the rule before
Earlier the facility to pay recurring bills through BBPS was available only in five segments which include Direct to Home (DTH), Electricity, Gas, Telecom and Water. “With a view to regularly linking various biller categories and providing more options for recharge to mobile prepaid customers, BBPS will be included in the biller category ‘Mobile Prepaid’ on a voluntary basis,” the Reserve Bank said in a circular. It was decided to approve ‘Recharge’.
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Prepaid phone service had 110 crore users 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 also provides online interoperable bill payment service to the customers. As offline through a network of agents. BBPS works under the National Payments Corporation of India (NPCI).