May 26, 2022
The Chairman and Managing Director / Chief Executive Officer
NPCI Bharat BillPay Ltd. / Bharat Bill Payment System Providers /
Participants and prospective Bharat Bill Payment Operating Units
1. 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 under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), and shall come into effect immediately.
Yours faithfully,
(P. Vasudevan)
Chief General Manager
Notification : https://www.dropbox.com/s/mxlfp85d2sf7phg/Bharat%20Bill%20Payment%20System%20%E2%80%93%20Amendment%20to%20guidelines.PDF?dl=0