RBI reduces the net-worth requirement for non-bank BBPOUs to Rs 25 crore
- Blog|News|FEMA & Banking|
- < 1 minute
- By Taxmann
- |
- Last Updated on 27 May, 2022
Latest from Taxmann
Circular no. RBI/2022-2023/58 CO.DPSS.POLC.No. S-253/02-27-020/2022-23, Dated: 26.05.2022
The RBI vide Circular DPSS.CO.PD No. 940/02.27.020/2014-2015, dated 28.11.2014 issued guidelines on the implementation of the Bharat Bill Payment System (BBPS). The RBI, in the Statement of Development and Regulatory Policies dated 08.04.2022 announced the reduction of the minimum net-worth requirement for obtaining authorisation by non-bank Bharat Bill Payment Operating Units (BBPOUs) to Rs. 25 crores.
Accordingly, the Bharat Bill Payment System (BBPS) guidelines have been modified to bring it in line with the aforesaid statement. Earlier the minimum net-worth requirement for obtaining authorisation by non-bank Bharat Bill Payment Operating Units (BBPOUs) was Rs. 100 crores.
The Circular is made effective immediately
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
