Transparent Forex Pricing Gains Traction on NBCL's India Connect

In a statement released on August 31, NBCL (NPCI India BillPay Ltd) disclosed that its India Connect digital marketplace has facilitated foreign exchange transactions worth over ₹10 crore between April and July 2026. The platform’s performance underscores a growing preference for clear, market‑driven forex pricing among Indian customers.

During FY 2025‑26, the service recorded ₹2.706 crore in transactions. The following fiscal year’s first four months saw an increase to ₹11.19 crore, resulting in a total cumulative value of ₹13.89 crore.

The India Connect solution is powered by CCIL’s FX‑Retail infrastructure, which delivers live, competitive exchange rates from a consortium of authorised banks. Previously, customers faced limited rate visibility and often had to conduct transactions offline or through a single dealer, making cost comparison difficult.

NBCL notes that the number of large‑scale transactions is rising as users exploit the platform’s real‑time pricing to secure better rates. The initiative, aligned with RBI policy and supported by partner banks—including Axis, Bank of Baroda, Federal, HDFC, ICICI, PNB, SBI and Yes Bank—offers digital access via BHIM, Cred, MobiKwik and other channels.