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Reserve Bank of India recently eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth requirement to Rs 25 crore from Rs 100 crore, with a view to encourage more players in the segment. 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. It was launched by NPCI.
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