The Reserve Bank of India (RBI) has altogether loosened up the standards for setting up of Bharat Bill Payment Operating Units for non-bank units. The national bank said that the total assets necessity has been decreased to Rs 25 crore to acquire more organizations in this fragment. At present the total assets limit for any non-bank units to set up Bharat Bill Payment Operation Units is Rs 100 crore. Bharat Bill Payment System (BBPS) is an 'interoperable' stage for bill installments.
At present a non-bank BBPOU (Bharat Bill Payment Operation Units) total assets of Rs 100 crore was expected to get approval. Bharat Bill Payment System (BBPS) is an interoperable stage for bill installments. The degree and inclusion of BBPS stretches out to all classes of billers who cause repeating bills.
The Reserve Bank of India said in a proclamation that the base total assets necessity for Non-Bank Bharat Bill Payment Operating Units (BBPOUs) has been diminished to Rs 25 crore. BBPS clients appreciate benefits like standard bill installment experience, incorporated client grievance arrangement component and fixed client office charges. The total assets has been decreased after the declaration made by the national bank in April.
RBI had said in the explanation that BBPS has seen an expansion in the exchange volume as well as the quantity of locally available billers. The RBI had said that a total assets of Rs 100 crore for a non-bank BBPOU to get approval turns out to be excessively enormous, because of which relatively few players can partake in it. In this way, RBI has chosen to adjust the total assets prerequisite of non-bank BBPOUs with other non-bank members to improve cooperation.
