Future Of Net Banking: NPCI’s Noopur Chaturvedi On Banking Connect, Security & What Changes Next

India’s net banking ecosystem already clocks nearly 300 million transactions every month, but NPCI believes the next leap is coming through Banking Connect, a unified platform designed to simplify high-value and workflow-based payments. In this conversation with Riddhima Bhatnagar of Business Today, Noopur Chaturvedi, MD & CEO NPCI Bharat Bill Pay , explains how Banking Connect is built not to compete with UPI or payment aggregators but to fill a crucial gap that other payment modes don’t fully address. She clarifies that while UPI dominates everyday payments, Net Banking remains essential for large-ticket, tax, insurance, education and workflow-based payments, and Banking Connect aims to make these journeys smoother and more reliable. Chaturvedi also highlights that the platform is already live with major banks like SBI, HDFC Bank, ICICI Bank, with many more in integration. Additionally, 11+ payment aggregators (PAs) are live or in certification, reinforcing that this is a collaborative ecosystem, not a competitive one. With centralized visibility improving fraud detection, higher success rates, and an expanding partner network, NPCI aims for Banking Connect to surpass today’s 300M monthly volumes in the coming years.