![\"Use](\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/upi-1280x720-1-1024x576-1-1280x720-1024x576-2-1280x720-1-1024x576.jpeg\")
<\/figure>\n\n\n\nIt will do so through the \u2018single-block-and-multiple debits\u2019 feature on the UPI platform.<\/p>\n\n\n\n
This is expected to give customers more trust while carrying out such transactions.<\/p>\n\n\n\n
\u201cIt has\u2026been decided to introduce a single-block-and-multiple-debits functionality in UPI, which will significantly enhance the ease of making payments in e-commerce space and towards investments in securities,\u201d RBI Governor Shaktikanta Das said after announcing the bi-monthly policy review.<\/p>\n\n\n\n
How it could work<\/strong><\/h2>\n\n\n\nHe further said that a customer will create a payment mandate against a merchant by blocking funds in his\/her bank account for specific purposes which can be debited, whenever needed.<\/p>\n\n\n\n
The governor added that this facility should help inspire a higher degree of trust in transactions since merchants will be assured of timely payments, while the funds remain in the customer\u2019s account till actual delivery of goods or services.<\/p>\n\n\n\n
The feature will also be helpful in purchase of government securities using the RBI\u2019s retail direct scheme.<\/p>\n\n\n\n
A separate instruction will be issued to the National Payments Corporation of India (NPCI) to implement the enhancement.<\/p>\n\n\n\n
Scope of Bharat Bill Payment System<\/strong><\/h2>\n\n\n\nDas also announced an expansion in the scope of Bharat Bill Payment System (BBPS) to include all payments and collections.<\/p>\n\n\n\n
This is new since right now, BBPS does not have a facility to process non-recurring payments or collection requirements of individuals even if they are recurring in nature.<\/p>\n\n\n\n
This results in professional service fee payments, education fees, tax payments, rent collections being outside the ambit of the platform.<\/p>\n\n\n\n
Wider accessibility<\/strong><\/h2>\n\n\n\n
Das also announced an expansion in the scope of Bharat Bill Payment System (BBPS) to include all payments and collections.<\/p>\n\n\n\n
This is new since right now, BBPS does not have a facility to process non-recurring payments or collection requirements of individuals even if they are recurring in nature.<\/p>\n\n\n\n
This results in professional service fee payments, education fees, tax payments, rent collections being outside the ambit of the platform.<\/p>\n\n\n\n