Question
The minimum net worth requirement for Non-Bank Bharat
Bill Payment Operating Unit has been reduced to:Solution
Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extends to all categories of billers who raise recurring bills. Users of BBPS enjoy benefits like standardised bill payment experience, centralised customer grievance redressal mechanism, prescribed customer convenience fee, etc. BBPS has seen an increase in the volume of transactions as well as number of onboarded billers. It is observed that there has not been a corresponding growth in the number of non-bank Bharat Bill Payment Operating Units (BBPOUs). The current requirement of net worth for a non-bank BBPOU to obtain authorisation is ₹100 crore and it is viewed as a constraint to greater participation. It is, therefore, proposed to align the net worth requirement of non-bank BBPOUs with that of other non–bank participants who handle customer funds (like Payment Aggregators) and have a similar risk profile. Accordingly, the net worth requirement for non-bank BBPOUs is being reduced to ₹25 crore
According to section 32 of the Specific Relief Act an instrument can be cancelled in part when
Void Agreement signifies_____________
Under the definition of “approved securities” in Section 5(a) of the Banking Regulation Act, 1949, as substituted by the Banking Laws (Amendment) Ac...
Indian Evidence Act was drafted by:
The Constitution of India is
According to the IRDA Act, 1999 intermediary or insurance intermediary includes_________
What are Eligible Companies under section 76 of the Companies Act, 2013?
Who among the following is a 'holder in due course' under Section 9 of the Act?
Under Section 11, what is the maximum age up to which the Chairperson of the DRAT can continue to serve?
Under Section 30B of the SARFAESI Act, an appeal against the order of the adjudicating authority imposing penalty under Section 30A must be preferred wi...
