Bharat Connect forex transactions cross ₹11.19 crore in first four months of FY27
NBBL’s Bharat Connect processed forex transactions worth ₹11.19 crore between April and July 2026, taking cumulative transaction value since launch to ₹13.90 crore.
The forex category was launched at the Global Fintech Fest 2025 with the integration of NBBL’s Bharat Connect platform and FX-Retail, developed by the Clearing Corporation of India Ltd. (CCIL).
MUMBAI: NPCI Bharat BillPay Limited (NBBL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), said forex transactions processed through its Bharat Connect platform crossed ₹11.19 crore between April and July 2026, marking a sharp increase in activity since the category was introduced.
The forex category was launched at the Global Fintech Fest 2025 with the integration of NBBL’s Bharat Connect platform and FX-Retail, developed by the Clearing Corporation of India Ltd. (CCIL). The initiative is aimed at providing customers with transparent and competitive forex pricing through an interoperable digital ecosystem.
Bharat Connect processed forex transactions worth ₹2.71 crore during FY 2025-26. In the first four months of FY 2026-27 alone, transaction value reached ₹11.19 crore, taking the cumulative value since launch to ₹13.90 crore.
The sharp increase comes as the digital forex offering seeks to address limitations in the traditional process of purchasing foreign exchange, where customers often have limited visibility of prices and depend on specific banking or authorised dealer channels.
Bharat Connect brings forex services onto an interoperable digital marketplace supported by regulated banking partners. The model enables customers to view live pricing and compare available rates, potentially helping them identify more competitive offers and reduce transaction costs.
NBBL said the platform is also witnessing an increasing number of large-ticket transactions, with transparent and live pricing enabling customers to compare rates and make savings on forex purchases.
The ecosystem currently includes eight participating banks on the fulfilment side — Axis Bank, Bank of Baroda, Federal Bank, HDFC Bank, ICICI Bank, Punjab National Bank, State Bank of India and YES Bank.
Customers can access the forex services through platforms including BHIM, Bank of Baroda, CRED, Federal Bank, MobiKwik, Punjab National Bank and State Bank of India.
The integration with FX-Retail provides the underlying market-linked price discovery mechanism, while Bharat Connect provides the interoperable digital infrastructure through which participating providers and customer-facing platforms can offer forex services.
The initiative is supported by the Reserve Bank of India’s guidance, with CCIL’s FX-Retail platform underpinning the price-discovery component.
NBBL said the model is helping modernise forex purchases by bringing regulated providers and digital platforms onto a common infrastructure, giving customers greater access, choice and convenience.
The growth in transaction volumes during the first four months of FY 2026-27 indicates increasing adoption of the digital channel, although the company did not provide a breakdown of transaction volumes, average transaction size or the savings achieved by customers.
