<p>The RBI on Thursday 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.</p>.<p>At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units).</p>.<p>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.</p>.<p>"...the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to Rs 25 crore," the Reserve Bank of India said in a circular.</p>.<p>Users of BBPS enjoy benefits like a standardised bill payment experience, a centralised customer grievance redressal mechanism and a prescribed customer convenience fee.</p>.<p>The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April.</p>.<p>The RBI had said while BBPS has seen an increase in the volume of transactions as well as a number of onboarded billers, it is observed that there has not been a corresponding growth in the number of non-bank BBPOUs.</p>.<p>The requirement of Rs 100 crore net worth for a non-bank BBPOU to obtain authorisation was viewed as a constraint to greater participation, it had said.</p>.<p>To increase participation, the RBI had decided to align the net worth requirement of non-bank BBPOUs with that of other non–bank participants who handle customer funds (like payment aggregators) and have a similar risk profile. </p>
<p>The RBI on Thursday 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.</p>.<p>At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units).</p>.<p>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.</p>.<p>"...the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to Rs 25 crore," the Reserve Bank of India said in a circular.</p>.<p>Users of BBPS enjoy benefits like a standardised bill payment experience, a centralised customer grievance redressal mechanism and a prescribed customer convenience fee.</p>.<p>The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April.</p>.<p>The RBI had said while BBPS has seen an increase in the volume of transactions as well as a number of onboarded billers, it is observed that there has not been a corresponding growth in the number of non-bank BBPOUs.</p>.<p>The requirement of Rs 100 crore net worth for a non-bank BBPOU to obtain authorisation was viewed as a constraint to greater participation, it had said.</p>.<p>To increase participation, the RBI had decided to align the net worth requirement of non-bank BBPOUs with that of other non–bank participants who handle customer funds (like payment aggregators) and have a similar risk profile. </p>