The RBI will soon be able to monitor fund transfers through the newly launched Banking Connect net banking platform, reducing the current data lag of up to a week or more.
Mumbai: The newly launched net banking platform, Banking Connect, will enable the Reserve Bank of India to monitor fund transfers with reduced time lags, a senior official of NPCI Bharat BillPay said on Thursday.
Noopur Chaturvedi, managing director and chief executive of NPCI Bharat BillPay (NBBL), said the platform aims to increase the number of monthly bills processed nearly fourfold, from the current 260 million to 1 billion within four years.
Chaturvedi added that by allowing transactions to be viewed more quickly, Banking Connect will help the regulator closely track fund transfers to sectors such as cryptocurrency and gaming.
PTI
Published: 28 Nov 2025, 07:46 am IST
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