NABFINS Onboards Bharat Connect to Simplify Microfinance Loan Repayments Across India

NPCI Bharat BillPay Limited (NBBL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has officially onboarded NABARD Financial Services Limited (NABFINS), a subsidiary of the National Bank for Agriculture and Rural Development (NABARD), onto its Bharat Connect platform under the loan repayment category. Facilitated by Canara Bank acting as the Biller Operating Unit (BOU), this integration allows over one lakh NABFINS microfinance borrowers across 19 Indian states to make seamless EMI and overdue installment repayments through an extensive, interoperable digital network. Through this partnership, NABFINS borrowers gain access to loan repayment services across more than 1,000 banking and payment applications, as well as over 8,000,000 physical agent outlets nationwide, significantly increasing flexible payment channels compared to previously limited options and reducing payment delays.

Leadership Perspectives and Financial Inclusion Impact:
Highlighting the significance of this collaboration, Dr. Y. Haragopal, Managing Director of NABFINS, stated that the partnership advances NABFINS’ core mission of delivering accessible, responsible financial services to unbanked and underserved communities by leveraging secure, customer-centric technology. Sunil Kumar Chug, Executive Director at Canara Bank, noted that Canara Bank is pleased to facilitate NABFINS’ entry into the Bharat Connect ecosystem, emphasizing that accessible digital repayment solutions in the microfinance sector strengthen overall financial inclusion and digital payment infrastructure. Additionally, Dr. Noopur Chaturvedi, MD & CEO of NBBL, emphasized that digitizing loan collections for microfinance borrowers represents a critical step forward for the platform, reaffirming NBBL’s commitment to driving digital adoption and expanding financial accessibility across India.

Loan Repayment Category Market Performance:
The addition of NABFINS further expands Bharat Connect’s loan repayment ecosystem, which currently hosts over 400 billers comprising commercial banks, Non-Banking Financial Companies (NBFCs), and Microfinance Institutions (MFIs). Demonstrating strong market adoption across the country, the loan repayment category processed over 18.8 crore transactions valued at approximately ₹1.23 lakh crore during the first half (H1) of FY2026-2027. This performance reflects an 18 percent growth in transaction volume and a 31 percent increase in overall transaction value year-on-year, underscoring the accelerating transition toward digital loan repayments among Indian consumers.