 "RBI, Reserve Bank of India")
The RBI on Thursday eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth reqirement to Rs 25 crore, with a view to encourage 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).
Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extends to all categories of billers who raise recurring bills.
"...the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to
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