Mount Olivet Sr. Secondary School - The first school to onboard BBPS (Bharat Bill Payment Services)

    Let me start today with a Quote : “If you are not willing to risk the unusual, you will have to settle for the ordinary. – Jim Rohn

          The popularity of BBPS is growing day by day. More and more Bill Payments are taking place every minute.

     Indians can now pay to more than 215 billers via the BBPS platform now, 24*7, & Days a week, 365 days a year.

 The groundwork for Educational Institutions to onboard the BBPS platform began by issuance of Reserve Bank of India Cir.dt. 16^th September 2019.

 The first guidelines on BBPS were issued by RBI vide Circular No.DPSS.CO. PD. No.940/02.27.020/2014-2015 on November 28, 2014.

 Initially BBPS offered five segments viz. Direct to Home (DTH), Electricity, Gas, Telecom and Water as an interoperable platform for repetitive bill payments.

 In para 3 of the Statement on Developmental and Regulatory Policies released with the Third Bimonthly Monetary Policy Statement 2019-20 of August 07, 2019, the expansion of BBPS was announced. It was decided that BBPS will include all categories of billers who raise recurring bills (except prepaid recharges) as eligible participants, on a voluntary basis.        

 Since then, many new categories of billers have been onboarded successfully. ‘Educational Institutions’, is the latest category of billers to Go Live on BBPS.

 The honour of the first educational institution to on BBPS is taken by “Mount Olivet Sr. Sec. School – New Delhi”.

 All others educational institutions are followers only. Simple, nothing more.

 There are two major expenditure components at schools. Regular School fees and Purchases at school stores.

 School Fees include, but not limited too:

 ·         Registration Fees

·         Term Fees

·         Admission Fees

·         Exam Fees

·         Transport Fees

·         Caution Deposits

 

School Stores expenses include, but not limited too:

 ·         School Uniform

·         Uniform Accessories

·         Books

 And of course, canteen expenses.

 School Fees, School Stores Expenses can be covered under BBPS.

BBPS is not suitable for canteen expenses, however canteen expenses can be digitised via UPI.

 Mount Olivet Sr. Secondary School is situated at Sant Nagar, (Burari), Delhi and has courses up-to Plus 2.                  

Mr. Birendra Yadav, is the Founder Principal of Mount Olivet School and the President of Olivet Educational Society.

Read more about Olivet @ https://www.mountolivetschool.in/Default.aspx

 A Press Release by NPCI on this momentous occasion would have been a stupendous moment for “Mount Olivet Sr. Sec. School – New Delhi”.       After all they have taken the risk of the first educational institution to onboard BBPS.