Single platform for payment of different services: RBI’s New plan!
Posted on: 29/Nov/2014 4:58:03 PM
Reserve Bank of India has released the rules and regulations for collecting payments of different services (electricity, school education, telephone, etc) at one place.
A new system, called ‘Bharath Bill Payment System’, will provide for the payment of different services at one place.
RBI has informed the agents recruited for this facility that all service payments can be collected at one place.
RBI, in its latest press release, has informed that the consumers will benefit largely by this measure and they will get the receipt of the payment on-the-spot.
RBI has also detailed the qualifications and conditions met by the agents providing this facility.
This facility will enable the government to monitor a majority of monetary transactions.
RBI has released a statistics that transactions worth Rs. 6,22.300 Crores have been exchanged through 3 Lakh Crore receipts.
