RBI extends deadline for applicants of BBPOUs

MUMBAI: 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," the central bank 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 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.

RBI said that more applicants may also be announced later after looking at the growth, development and expansion of BBPS.