RBI vide circular date February 29, 2024 has issued a Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024i in view of significant developments in the payments landscape. These Directions seek to streamline the process of bill payments, enable greater participation, and enhance customer protection among other changes. These Directions shall be applicable from April 01, 2024.
The provisions of these Directions shall apply to:
- NPCI Bharat Bill Pay Limited (NBBL – a wholly owned subsidiary of National Payments Corporation of India); and
- All Bharat Bill Payment Operating Units (BBPOUs).
