Press Release<\/a> issued by the Reserve Bank of India on October 20, 2015.<\/p>\nBanks are required to submit a letter along with the Board resolution for undertaking this activity. The details of the type of billers and bill payments that is being handled and\/or proposed to be handled by them as BBPOUs, and a complete list of billers for whom services are presently offered may also be provided.<\/p>\n
13) Whether it is mandatory for all entities (banks and non-banks) doing bill payments to apply for authorisation to Reserve Bank?<\/p>\n
Ans: The entities currently engaged in bill payments which are falling under the existing scope of BBPS will mandatorily have to apply to Reserve Bank for authorisation.<\/p>\n
14) If the entity does not fall under the present scope of BBPS, whether it is still required to apply for authorisation?<\/p>\n
Ans: Entities engaging in bill payment activities not covered in the present scope of BBPS need not apply for authorisation now. These entities may be required to apply for authorisation as and when the scope of the BPPS is expanded in future. A separate notification will be issued by the Reserve Bank.<\/p>\n
15) What will happen to the application when the entity meets all the eligibility criteria?<\/p>\n
Ans: The Reserve Bank of India will issue in-principle authorisation to entities which meet the eligibility criteria and other due diligence checks carried out as part of authorisation. The final authorisation to commence the business will be issued after submission of System Audit report and obtaining certification from NPCI to join the BBPS system.<\/p>\n
16) What will happen to the application if any entity already engaged in bill payments does not meet the eligibility criteria?<\/p>\n
Ans: Those entities which have applied for authorisation but do not presently meet the eligibility criteria will be given one-time extension upto December 31, 2016 to meet the eligibility criteria. During this period, the entities can continue to engage in bill payments activities covered under the scope of BBPS.<\/p>\n
17) Whether an entity which has been granted extension will be required to inform RBI when they meet the eligibility criteria?<\/p>\n
Ans: Yes, the entity will be required to report to RBI as and when it meets the eligibility criteria, but not later than December 31, 2016, for obtaining authorisation to operate as BBPOU.<\/p>\n
18) What will happen if an entity is not able to meet the eligibility criteria by December 31, 2016?<\/p>\n
Ans: The entities which have been given extension of time but fail to meet the eligibility criteria by December 31, 2016 will be required to become agents of the existing BBPOUs or exit the business of bill payments covered under the scope of BBPS by May 31, 2017.<\/p>\n
19) Will the BBPS guidelines apply to billers own collection centers operated by them?<\/p>\n
Ans: No. The billers own collection points will continue as hitherto, even after operationalisation of BBPS.<\/p>\n
20) Whether the entities ( banks and non-banks), who are presently engaged in the bill payment activities falling under the scope of BBPS but want to become an agent only in future of a BBPOU, are also required to submit their application?<\/p>\n
Ans: No, the entities (bank or non-banks) presently engaged in bill payment activities covered under the scope of BBPS desirous of operating only as agents under BBPS system are not required to apply for approval\/authorisation to Reserve Bank.<\/p>\n
21) In case of entities as indicated in Q.20, till what time such entities will be allowed to continue to provide bill payment service? Is there a timeline for them to join as agent or agent institution of authorised BBPOUs?<\/p>\n
Ans: Those entities which have intent to become only agents of BBPOUs can continue to operate their business till December 31, 2016. In case they do not become agents of authorised BBPOUs by then, they will have to wind down their business by May 31, 2017.<\/p>\n
22) In what capacity entities, which have been granted in-principle approval by RBI as a \u201csmall bank\u201d or \u201cpayment bank\u201d, should apply for BBPOU authorisation \u2013 as a bank or a non-bank?<\/p>\n
Ans: Such entities will be required to apply for authorisation to Reserve bank under their current legal status.<\/p>\n
23) Whether the non-bank entities will be required to show upfront that they are meeting the capital requirement for BBPOUs?<\/p>\n
Ans: If an entity applying for authorisation for BBPOU does not have the required networth as indicated in the eligibility criteria, then they are required to demonstrate unequivocal commitment \/ sources for raising the funds and also specify the time period within which the funds will be raised.<\/p>\n
24) Whether the window for approval\/authorisation will be opened in future date for existing entities (banks and non-banks)?<\/p>\n
Ans: Depending on the development, growth and expansion of the scope of BBPS, the Reserve Bank may decide to open approval\/authorisation window once again at a future date.<\/p>\n
25) Whether the authorisation window will be opened again by Reserve Bank? In which case, who will be eligible for applying for authorisation at that time? Whether entities (bank and non-banks) currently not engaged in bill payment activities can also apply for approval\/authorisation?<\/p>\n
Ans: As indicated above, depending on the development, growth and expansion of the scope of BBPS, the Reserve Bank may decide to open approval\/authorisation window once again at a future date.<\/p>\n
All entities engaging in bill payment activities and meeting the requisite eligibility criteria for authorisation \/ approval as BBPOUs can apply as and when the window is opened again.<\/p>\n
26) Whether it is mandatory for banks to submit copy of the \u201cBoard approval\u201d while applying for approval to Reserve Bank?<\/p>\n
Ans: Submission of Board approval will facilitate speedier processing of applications. If, however, a bank is unable to do so, it will be required to clearly indicate the timeline by which they will be submitting their \u201cBoard approval\u201d in their application, and the application will be processed only thereafter.<\/p>\n
Source : RBI<\/p>\n","protected":false},"excerpt":{"rendered":"
1) What is Bharat Bill Payment System (BBPS)? Ans: Bharat Bill Payment System (BBPS) is an 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. 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