RBI Cuts Minimum Requirement For Bharat Bill Payment Units To ₹ 25 crore

RBI Cuts Minimum Requirement For Bharat Bill Payment Units To ₹ 25 crore – Reserve Bank of India (RBI) has eased norms for non-bank entities to set up Bharat Bill Payment operating units and has reduced the net-worth requirement to ₹ 25 crores, with a view to encouraging more players in the segment.

  • Currently, a net worth of ₹100 crores is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units).
  • BBPS’s users will take benefits including a standardised bill payment experience, a centralised customer grievance redressal mechanism and a prescribed customer convenience fee.

Bharat Bill Payment System (BBPS)

  • Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage extend to all categories of billers who raise recurring bills.

★★★★  You Can Also Read  ★★★★

Computer Awareness Quiz Questions Set (Banking)
Read Daily Current Affairs Topic Wise
Daily Current Affairs Quiz (Current GK Test)
Static Gk Quiz Questions and Answers

📣 Prepare Exams is now on Facebook, Twitter, Instagram, YouTube Channel, and Google News to get all the latest News first Like, Follow and bookmark our website @ PrepareExams.com.

For all the latest Updates, download PrepareExams App.

Leave a Comment