RBI extends last date for BBPOUs till Dec 18

RBI today said it 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, the central bank said in a statement. 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, it added. 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, the RBI said. The Bharat Bill Payment System (BBPS) will be an authorised payment system operated by National Payment Corporation of India (NPCI).

In November 2014, RBI had released guidelines for implementation of BBPS under Payment and Settlement System.