MANU/RPRL/0165/2015

Ministry : Reserve Bank of India

Department/Board : RBI

Press Release No. : 2015-2016/956

Date : 20.10.2015

Notification/ Circulars Referred : Circular RBI/2014-15/327/DPSS.CO.PD.No.940/02.27.020/2014-15 MANU/RMIC/0230/2014

Citing Reference:
Circular RBI/2014-15/327/DPSS.CO.PD.No.940/02.27.020/2014-15 MANU/RMIC/0230/2014  Referred

RBI invites Applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)

The Reserve Bank of India today invited applications for authorisation from entities currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS). The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI).

To begin with, under BBPS the BBPOUs will function as entities facilitating collection of repetitive payments for everyday utility services, such as, electricity, water, gas, telephone and Direct-to-Home (DTH). Entities currently engaged in such bill payment activities and desirous of continuing the activity are mandatorily required to apply for authorisation to the Reserve Bank of India under the Payment and Settlement Systems (PSS) Act 2007.

Applications in prescribed format may be made to the Chief General Manager, Department of Payment and Settlement System, Reserve Bank of India, 14th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai-400001. The applications will be accepted till the close of business on November 20, 2015.

The general guidelines, as well as the application format for non-bank entities to seek authorisation under the PSS Act for operating a payment system, are available at http://rbidocs.rbi.org.in/rdocs/Forms/DOCs/PSSACRT130215.DOC. Applicants may also provide additional inputs as indicated in the template.

For Non-Banks

Non-bank entities applying for authorisation and fulfilling the eligibility criteria laid out in para 13 of the BBPS guidelines will be issued "in-principle" authorisation to join the BBPS under the PSS Act. Those which have applied for authorisation but do not presently meet the eligibility criteria........