The Reserve Bank of India (RBI) on December 07, 2022, issued a Statement on Developmental and Regulatory Policies. A single-block-and-multiple debits functionality shall be introduced in UPI, which will significantly enhance the ease of making payments in the e-commerce space and towards investments in securities.
The scope of BBPS shall be expanded to include all categories of payments and collections, both recurring and non-recurring in nature. This will make the platform accessible to a wider set of individuals and businesses who can benefit from the transparent and uniform payments experience, faster access to funds, and improved efficiency.
