The Reserve Bank of India (RBI) has given major relief by relaxing norms for non-bank entities to set up Bharat Bill Payment Operating Units. On Thursday, the central bank said that to attract more companies in this segment, the net worth requirement has been reduced to Rs 25 crore.
It may be noted that at present the net worth limit for a non-bank entity to set up Bharat Bill Payment Operating Units is Rs 100 crore. Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments. That is, through this platform, the bill can be paid through any other payment platform. The Reserve Bank of India has said in a statement issued in this regard that the minimum net worth requirement for non-bank Bharat Bill BBPOU has been reduced to Rs 25 crore.
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