With the growing popularity of Bharat Bill Payment System (BBPS), the RBI has decided to lower the net worth requirement of operating units to Rs. 25 crore from the current limit set at Rs. 100 crore.
“To further facilitate greater penetration of bill payments through BBPS and to encourage participation of a greater number of non-bank Bharat Bill Payment Operating Units in the BBPS, it is proposed to reduce the net worth requirement of such entities from Rs. 100 crore to Rs. 25 crore,” said RBI Governor Shaktikanta Das.
The Statement on Developmental and Regulatory Policies noted that while BBPS has seen an increase in the volume of transactions and number of onboarded billers, there has not been a corresponding growth in the number of non-bank Bharat Bill Payment Operating Units (BBPOUs). “The current requirement of net worth for a non-bank BBPOU to obtain authorisation is Rs. 100 crore and it is viewed as a constraint to greater participation,” it said, adding that necessary amendments to regulations will be carried out shortly.
BBPS is an interoperable platform for bill payments and coversall categories of billers who raise recurring bills.