Central Bank of India has become the first public sector bank (PSB) to launch Bharat Connect for Business, a digital platform designed to simplify business-to-business (B2B) payments, invoicing, collections and settlements.
The initiative was launched at the NPCI Pavilion during the Global Fintech Fest 2026 in Mumbai. The launch was attended by Kalyan Kumar, Managing Director & CEO of Central Bank of India, and Noopur Chaturvedi, Managing Director & CEO of NPCI Bharat BillPay Limited (NBBL).
What is Bharat Connect for Business?
Bharat Connect for Business is designed as an integrated digital ecosystem for businesses to manage different parts of their payment cycle through a single platform.
The platform brings together functions such as:
* Digital invoice generation
* Making and receiving B2B payments
* Payment collections
* Settlement management
* Transaction tracking and reconciliation
* Connectivity between buyers, sellers and their banks
According to the announcement, the platform is intended to make business transactions more seamless and efficient while reducing friction between different participants in the payment process.
Why B2B payments need digital integration
Business payments are generally more complicated than ordinary consumer transactions. A typical transaction can involve an invoice, payment initiation, collection, settlement, reconciliation and record-keeping.
When these activities are handled through separate systems, businesses may have to deal with multiple interfaces and manual processes.
Bharat Connect for Business aims to bring these activities into a more integrated digital framework. This can help businesses track payments more easily and reduce the administrative work involved in matching invoices with received payments.
For small businesses and MSMEs, faster collections and easier reconciliation can also have a direct impact on day-to-day cash-flow management.
Central Bank of India takes the lead among PSBs
The launch gives Central Bank of India a first-mover position among public sector banks in adopting Bharat Connect for Business.
The move also adds another layer to the bank’s digital banking offering, particularly for business and MSME customers.
For businesses, the value of such a platform will ultimately depend on how widely it is adopted by buyers, sellers, banks and other participants. A connected B2B ecosystem becomes more useful as more businesses and financial institutions participate.
Role of NPCI Bharat BillPay
Bharat Connect is associated with NPCI Bharat BillPay Limited (NBBL), the NPCI subsidiary responsible for Bharat Connect.
Bharat Connect was earlier known as the Bharat Bill Payment System (BBPS) before the platform was rebranded as Bharat Connect. The system has evolved from a bill-payment infrastructure into a broader digital payments ecosystem.
The business-focused platform extends this approach into B2B transactions, where invoicing, payments, collections and settlement need to work together.
What it could mean for MSMEs
MSMEs frequently face delays between raising an invoice and receiving payment. They also have to spend time tracking outstanding invoices and reconciling incoming payments with their accounting records.
A digital platform connecting invoices, payments and settlements could make these processes easier.
The broader need for better digital infrastructure for MSMEs has also been highlighted recently, particularly around connecting invoicing, payments, reconciliation and financing.
If these systems become widely integrated with banking and business software, businesses could eventually have better visibility of their cash flows and receivables.
A new step in India’s digital payments journey
India’s digital payments infrastructure has expanded well beyond consumer UPI transactions. The next phase increasingly involves making business payments more connected and easier to manage.
B2B payments involve larger transaction chains and more documentation than simple person-to-person payments. Integrating invoices, collections, payments and settlements can therefore address a different set of problems from those solved by consumer-focused payment systems.
Central Bank of India’s launch of Bharat Connect for Business places the bank among the early public-sector adopters of this emerging infrastructure.
Central Bank of India’s launch of Bharat Connect for Business marks a new step in the digitalisation of B2B payments in India.
By bringing invoicing, payments, collections and settlements into an integrated ecosystem, the platform is aimed at reducing friction in business transactions and improving the way buyers, sellers and banks interact.
The bigger test will be adoption. If businesses across sectors begin using the platform at scale, Bharat Connect for Business could become another significant layer in India’s rapidly developing digital payments infrastructure.
