RBI Amends Guidelines for Bharat Bill Payment System

RBI Amends Guidelines for Bharat Bill Payment System The Reserve Bank of India (RBI) vide Circular No. RBI/2022-2023/58 (CO.DPSS.POLC. No. S-253/02-27-020/2022-23) dated 26.05.2022 amends the Guidelines for Bharat Bill Payment System. The Circular is Given Below: This has reference to the guidelines on Bharat Bill Payment System (BBPS) issued by the Reserve Bank of India (RBI) vide circular DPSS.CO.PD.No.940/02.27.020/2014-2015 dated November 28, 2014. As announced in the Statement on Development and Regulatory Policies dated April 08, 2022, the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to ₹25 crore. The BBPS guidelines have been suitably amended. 2. This circular is issued in accordance with Section 10 (2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and takes effect immediately. For Official Circular Download PDF Given Below: