What changed
The minimum net-worth requirement for non-bank BBPOUs has been reduced to ₹25 crore. This amendment was announced in the Statement on Development and Regulatory Policies dated April 8, 2022, and the BBPS guidelines have been updated accordingly.
What it means for you
This move lowers the entry barrier for non-bank entities to become BBPOUs, potentially increasing competition and innovation in the bill payment space. Existing and prospective non-bank participants can now meet a lower capital threshold, which may accelerate onboarding and expand BBPS reach.
What you must do
- Review your entity's net worth to ensure compliance with the revised ₹25 crore requirement.
- Update internal policies and documentation to reflect the amended BBPS guidelines.
- Assess opportunities to enter or expand operations as a non-bank BBPOU under the relaxed norm.
Who it affects
Non-bank Bharat Bill Payment Operating Units (BBPOUs), Prospective non-bank entities seeking BBPS participation, NPCI Bharat BillPay Ltd., Existing BBPS participants
What is the new net-worth requirement for non-bank BBPOUs?
The minimum net-worth requirement has been reduced to ₹25 crore, effective from May 26, 2022.
Does this circular apply to bank BBPOUs as well?
No, the reduction in net-worth requirement specifically applies to non-bank Bharat Bill Payment Operating Units.
When does this amendment take effect?
The circular came into effect immediately upon issuance on May 26, 2022.