Deadline for Bharat Bill Pay Applications extended by RBI

Deadline for Bharat Bill Pay Applications extended by RBI

The Reserve Bank of India (RBI) on Friday extended the deadline for applicants of the Bharat Bill Payment System Operating Units (BBPOUs), to December 18 from November 20 earlier.

"This has been done keeping in view the difficulties expressed by various entities in meeting the deadline... it may, however, be noted that the applications received till close of business on November 20, 2015 will be processed earlier by the Reserve Bank of India," RBI said on its website.

Bharat Bill Payment System (BBPS) is government envisaged integrated bill payment system which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground.

The system will be designed to provide multiple payment modes and instant confirmation of payment.

Bank and non-bank entities currently engaged in the bill payment activities covered under the current scope of BBPS can participate either as BBPOUs or as agents of authorised BBPOUs.

SOURCE:BankingUpdates