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Netbanking 2.0: NPCI’s New Interoperable Switch

17 September 20251 min read
BANKING & FINANCENetbanking 2.0:NPCI’s NewInteroperableSwitch17 September 2025safalsetu.com

Why in the news

Four large banks and several payment aggregators were preparing to go live on Netbanking 2.0, with the launch expected at Global Fintech Fest 2025 (7-9 October).

Key facts

  • Developer: NPCI Bharat BillPay Ltd (NBBL).
  • Design: a new independent switch, not dependent on existing payment rails.
  • Interoperability: merchants and aggregators need no separate tie-up with every bank.
  • Fixes: settlement delays, chargebacks, reconciliation gaps and poor visibility.
  • Dynamic QR codes: start a payment on a laptop, approve on a mobile.

Exam angle

  • Developer: NBBL; launch platform: Global Fintech Fest 2025.
  • Core idea: one bank-neutral switch replaces many bank integrations.

Test yourself

1. Which entity developed the Netbanking 2.0 switch?

The notes name NBBL as the developer.

2. At which event was Netbanking 2.0 expected to be launched by the RBI Governor?

It was expected at Global Fintech Fest 2025 (Oct 7-9).

3. What problem does Netbanking 2.0 remove for payment aggregators?

It ends separate integration with every individual bank.

This topic is part of Daily Current Affairs 17 September 2025 (13 topics).

All topics of the dayDay quizSeptember 2025

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