Categories: Banking

RBI reduces net-worth requirement for non-bank Bharat Bill Payment units

The Reserve Bank of India (RBI) has eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth requirement to Rs 25 crore, with a view to encouraging more players in the segment. At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units). The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April.

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To increase participation, the RBI had decided to align the net worth requirement of non-bank BBPOUs with that of other nonbank participants who handle customer funds (like payment aggregators) and have a similar risk profile.

About the Bharat Bill Payment System (BBPS):

Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extend to all categories of billers who raise recurring bills. Users of BBPS enjoy benefits like a standardised bill payment experience, a centralised customer grievance redressal mechanism and a prescribed customer convenience fee.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.

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