The Reserve Lender of India (RBI) has eased norms for non-lender entities to set up Bharat Bill Payment functioning units by minimizing the web-truly worth need to Rs 25 crore, with a see to encouraging additional players in the section. At current, a internet truly worth of Rs 100 crore is expected to acquire authorisation for a non-bank BBPOU (Bharat Invoice Payment Running Models). The reduction in net-worth needs follows an announcement regarding the very same by the central lender in April.
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To improve participation, the RBI experienced made a decision to align the net truly worth necessity of non-lender BBPOUs with that of other nonbank participants who tackle client cash (like payment aggregators) and have a similar chance profile.
About the Bharat Invoice Payment Technique (BBPS):
Bharat Monthly bill Payment Program (BBPS) is an interoperable platform for invoice payments and the scope and protection of BBPS prolong to all types of billers who raise recurring costs. People of BBPS enjoy positive aspects like a standardised invoice payment knowledge, a centralised customer grievance redressal mechanism and a prescribed consumer convenience fee.
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