NBBL & Juspay launch Switch & SDK for Banking Connect

What: NPCI Bharat BillPay Limited and Juspay launched a unified switch and SDK for Banking Connect to standardise net‑banking integrations and workflows.

Significance: Improves interoperability, onboarding speed, security and scalability of net‑banking/payment aggregator integrations.

UPSC relevance: Digital payments architecture, fintech regulation and financial inclusion.

Practice Q: Explain how standardized banking APIs and SDKs improve payment system efficiency and security.