- Non-banking companies now need Rs 25 crores minimum net worth to set up Bharat Bill Payment Operating Units (BBPOU).
- Presently there is a requirement of 100 crores to set up a non-bank Bharat Bill Payment Operating Units.
- This step has been taken by RBI after observing the statistics that there is an increase in the volume of transactions as well as the number of onboarded billers, whereas the non-bank entities are not actively participating in it due to high net worth.
- Considering The Bharat Bill Payment System (BBPS) is an interoperable bill payment network, which scope and coverage include all types of billers who issue recurring bills.
- This circular has been issued under the Payment and Settlement Systems Act, 2007.
Question:
Q.1 According to the recent circular of RBI what is the net worth decided for Non-Bank Bharat Bill Payment Operating Units (BBPOU)?a. 50 crore
b. 25 crore
c. 75 crore
d. 100 crore
