RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
November, 17th 2015
The Reserve Bank of India has extended the last date for receiving applications for authorising Bharat Bill Payment System Operating Units (BBPOUs), to December 18, 2015 from the earlier November 20, 2015. This has been done keeping in view the difficulties expressed by various entities in meeting the deadline.
Applications will now be accepted till the close of business as on December 18, 2015. It may, however, be noted that the applications received till close of business on November 20, 2015 will be processed earlier by the Reserve Bank of India.
Bank and non-bank entities presently engaged in the bill payment activities covered under the current scope of Bharat Bill Payment System (BPPS) can participate either as Bharat Bill Payment Operating Units (BBPOUs) or as agents of authorised BBPOUs. Those desirous of becoming BBPOUs will necessarily have to apply within the extended timeline.
Depending on the development, growth and expansion of the scope of BBPS, the Reserve Bank may decide to invite applications for approval/authorisation of BBPOUs again, at a future date.
In order to address the queries received from interested entities, the Reserve Bank has also placed on its website a set of FAQs on Bharat Bill Payment System. Specific queries, if any, may be mailed till close of business on December 11, 2015.