Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt :: form 3cd :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: VAT RATES
 
 
« Latest Circulars »
 RBI-Sources of Variation in Foreign Exchange Reserves in India during April-December 2016
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2016-17
 RBI signs Memorandum of Understanding(MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Bank of Thailand
 RBI-Meeting Schedule of the Monetary Policy Committee for 2017-18
 RBI to conduct Overnight, 7 day and 14 day Variable rate Reverse Repo auctions under LAF on March 22, 2017
 Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies
 Master Directions on Issuance and Operation of Prepaid Payment Instruments in India
 RBI seeks comments on draft circular on Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India
  Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)
 RBI-Reporting and Accounting of Central Government Transactions of March 2017
 Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)

RBI-Applications for authorising BBPOUs: Status
May, 14th 2016

The Reserve Bank of India had, on October 20, 2015, invited applications from banks and non-banks for authorisation/approval as Bharat Bill Payment Operating Unit (BBPOU). The date of receipt of these applications was extended from November 20, 2015 to December 18, 2015 Press Release dated November 13, 2015. It was also indicated that the applications received till close of business on November 20, 2015 will be processed earlier by the Reserve Bank of India.

As at the close of business on November 20, 2015, the Reserve Bank had received 12 applications for authorisation from non-bank entities and 18 requests for approval from banks for operating as a BBPOU. By the extended date of December 18, 2015, in all, 62 applications from non-banks and 80 approval requests from the banks were received.

These applications are being processed and the Reserve Bank of India has commenced communicating the decision directly to the applicants. ‘In-principle’ approvals to operate as BBPOU are conveyed where the applicants meet all the eligibility requirements including existing net worth and requisite billing experience as covered under the present scope of Bharat Bill Payment System (BBPS). Billing experience for eligibility as a BBPOU does not include activities in which the applicant is only a front-end of a bill aggregator and does not have tie- up with billers.

The applications of entities not meeting the eligibility criteria, including that of requisite net worth and billing experience under the present scope of BBPS, are being returned.

Given the large number of applications received, as per usual practice, the applications are processed in order of receipt of complete information from the applicants.

Alpana Killawala
Principal Adviser

Press Release : 2015-2016/2664

Related Circulars and Press Releases
November 24, 2015 RBI grants ‘in-principle’ approval to NPCI to function as the central unit for Bharat Bill Payment Systems (BBPS)
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 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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