New Netbanking Switch To Provide...

Fri, 28 November 2025

10:29

A new netbanking switch, Banking Connect -- developed by NPCI Bharat BillPay (NBBL) -- is expected to standardise netbanking partnerships and give the Reserve Bank of India more visibility into transactions and grievance management, said Noopur Chaturvedi, NBBL's MD &'CEO.

NBBL is targeting 1 billion monthly transactions in the next three to four years, up from the current 260 million, Chaturvedi added. Launched this year, the netbanking switch Bharat Connect provides interoperability between the RBI, licensed payment aggregators and different banks.

"There was no real-time visibility to the regulator on how many transactions are happening, if a customer had a grievance, its resolution and in how many days," Chaturvedi said at a media roundtable.

"There was no transparency around which segments were the netbanking transactions happening... All of this needs to be systematically monitored and wherever possible, controlled." -- Business Standard

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