Indian expats can now send remittances back home via Bharat Bill Payment System
Shortpedia
Content Team
Image Credit: FPJ
The Reserve Bank of India has allowed foreign inward remittances received under the rupee drawing arrangement to be done through the Bharat Bill Payment System. These remittances are transferred to the know-your-customer compliant bank account of the biller. In the RBI's August monetary policy, Governor Shaktikanta Das announced that the Bharat Bill Payment System will be enabled to accept cross-border inward payments.
