Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT Audit :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARD :: TDS :: articles on VAT and GST in India :: list of goods taxed at 4% :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: due date for vat payment
 
 
« Latest Circulars »
 RBI-Auction of Government of India Dated Securities January 15, 2018
 Understanding and Managing Interest Rate Risk at Banks (Viral V Acharya, Deputy Governor – January 15, 2018 – at the FIMMDA Annual Dinner, 2018
 Auction of State Government Securities
 RBI releases draft directions on hedging of commodity price risk and freight risk in overseas markets
 Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh)
 RBI-Monthly Bulletin for January 2018
 RBI to conduct 7-day Variable Rate Reverse Repo auction under LAF on January 10, 2018
 Auction for Sale (Re-issue) of Government Stock (GS) January 08, 2018
 Auction of Government of India Dated Securities January 8, 2018
  Non-Banking Financial Company – Peer to Peer Lending Platform
 RBI issues Master Direction on Foreign investment in India

RBI grants in-principle approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
November, 25th 2015

The Reserve Bank of India has today decided to grant ‘in principle’ approval to the National Payments Corporation of India (NPCI) to function as the Bharat Bill Payment Central Unit (BBPCU) in BBPS.

The Bharat Bill Payment System (BBPS), an integrated bill payment system, will function as a tiered structure for operating the bill payment system in the country with a single brand image providing convenience of ‘anytime anywhere’ bill payment to customers. As the central unit, NPCI will set necessary operational, technical and business standards for the entire system and its participants, and also undertake clearing and settlement activities. The present scope of BBPS will include utility bill payments, such as, electricity, water, gas, telephone and Direct-to-Home (DTH). Based on the experience, this would be extended to include other types of repetitive payments, like school / university fees, municipal taxes etc. in future.

The Operating Units will function as entities facilitating collection of bills/repetitive payments. Reserve Bank had invited applications for authorisation/approval to function as Operating Unit from non-banks/banks. The last date for receipt of such applications/approval requests was November 20, 2015. This had been extended to December 18, 2015.

As at the close of business on November 20, 2015, the Bank has received 12 applications for authorisation from non-bank entities and 18 requests for approval from banks for operating as a BBPOU. Reserve Bank would continue to receive further applications for authorisation/approval as Operating Units till close of business on Friday, December 18, 2015.

It may be recalled that the Reserve Bank of India had, vide circular dated November 28, 2014 issued guidelines for setting up the Bharat Bill Payment System (BBPS), wherein it was indicated that NPCI will function as BBPCU and there could be multiple Bharat Bill Payment Operating Units-BBPOUs (Operating Unit) under BBPS.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2015-2016/1234

Related Circulars and Press Releases
November 13, 2015 RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
October 20, 2015 RBI invites Applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
November 28, 2014 Implementation of Bharat Bill Payment System (BBPS) - Guidelines
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions