**Summary:**
This circular, RBI2022202358 CO.DPSS.POLC.No. S2530227020202223, issued by the Reserve Bank of India (RBI) on May 26, 2022, announces an amendment to the guidelines on the Bharat Bill Payment System (BBPS). Specifically, it reduces the minimum net worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) to ₹25 crore. This change was initially announced in the Statement on Development and Regulatory Policies on April 08, 2022. The amendment is made under Section 10 read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and takes effect immediately. The original BBPS guidelines were issued via circular DPSS.CO.PD.No.9e 4002s.2, 7.02020142015 dated November 28, 2014. Contact person for inquiries is P. Vasudevan, Chief General Manager.
Key Entities Referenced
Bharat Bill Payment System: A system for bill payments in India, regulated by the Reserve Bank of India.
NPCI Bharat BillPay Ltd: An entity involved in the Bharat Bill Payment System.
Bharat Bill Payment Operating Units: Entities that operate within the Bharat Bill Payment System.
Reserve Bank of India: The central bank of India, which regulates the Bharat Bill Payment System.
Payment and Settlement Systems Act, 2007: An act of the Indian Parliament that provides the legal basis for the regulation of payment and settlement systems in India.
P. Vasudevan: Chief General Manager at Reserve Bank of India
April 08, 2022: Date of the Statement on Development and Regulatory Policies, which announced changes to the BBPOU requirements.
November 28, 2014: Date of the circular DPSS.CO.PD.No.9e 4002s.2, 7.02020142015 which issued guidelines on Bharat Bill Payment System.
RBI/2022-2023/58
CO.DPSS.POLC.No. S-253/02-27-020/2022-23 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
a
i
d
Madam / Dear Sir,
n
I
f
o
Bharat Bill Payment System – Amendment to guidelines
k 4
n 2
This has reference to the guidelines on Bharat Bill Payment Sysa tem (B0BPS) issued by the
B 2
Reserve Bank of India (RBI) vide circular DPSS.CO.PD.No.9e 40/02s.2, 7.020/2014-2015 dated
v n
November 28, 2014. As announced in the Statemente r on Deovelopment and Regulatory
s ti
e c
Policies dated April 08, 2022, the minimum net-wor Rth requeirement for non-bank Bharat Bill
r 4
Payment Operating Units (BBPOUs) stands reduc–e d to
₹D2i
5 cror2e. The BBPS guidelines have
been suitably amended.
on m)
20
ti e 9,
ec st 2
2. This circular is issued under Sectiorn 10 (y2) read
y
with Section 18 of the Payment and
Di S r
Settlement Systems Act, 2007 (Act
r
51 of 2 nt0 07), a
una
d shall come into effect immediately.
te e br
s m e
a
Yours faithfully, M y F
a
d
P
y e
d
b Bill dat
e
(P. Vasudevan) d at
Chief General sMe anagearr
r h
e B
p
(
u
S