Institute for Development and Research in Banking Technology

In the first phase of financial sector reforms, a need was felt to develop an Institute of higher learning which can also provide operational service support in Information Technology to Banks and Financial Institutions.

Institute for Development and Research in Banking Technology

Institute for Development and Research in Banking Technology

Induction of computer technology in the Indian Banking sector was laid by Dr Rangarajan Committee's two reports in the years 1984 and 1989. Both the reports had strongly recommended the computerisation of banking operations at various levels and suggested appropriate architecture.

In the year 1993, the Employees' Unions of Banks signed an agreement with Bank Management under the auspices of the Indian Banks' Association (IBA). This agreement was a major breakthrough in the introduction of computerised applications and the development of communication networks in Banks. In two years, substantial work was done and the top managements realised the urgent need for training, research and development activities in the Banking Technology area. Banks and Financial Institutions started setting up Technology-based training centres and colleges. However, a need was felt for an apex level Institute which could be a Think-tank and Brain Trust for Banking Technology.

In the year 1994, RBI formed a committee on "Technology Upgradation in the Payment Systems". The committee recommended a variety of payment applications that can be implemented with appropriate technology up gradation and development of a reliable communication network. The committee also suggested setting up an Information Technology Institute for the purpose of Research and Development as well as Consultancy in the application of technology to the Banking and Financial sector of the country.  As recommended by the Committee, IDRBT was established by RBI in 1996 as an autonomous centre for Development and Research in Banking Technology.

Education and Training

As part of the Institute's mission to promote technology solutions in the banking and financial sectors, IDRBT has chosen education and training as the medium to empower the key players in these sectors.

Higher education in Banking and Information Technology is offered by the Institute in the form of M.Tech and PhD courses in collaboration with reputed universities like the University of Hyderabad.

Extensive training is offered by the Institute through a variety of Executive Development Programmes


Indian FInancial NETwork (INFINITE)

The Indian  FInancial NETwork is the communication backbone for the Indian Banking and Financial Sector. All Banks, Public Sector, Private Sector, the Cooperative, etc., and the premier Financial Institutions in the country are eligible to become members of the INFINITE. The INFINET is a Closed User Group (CUG) Network for the exclusive use of Member Banks and Financial Institutions. It uses a blend of communication technologies such as VSATs and Terrestrial Leased Lines. Presently, the network consists of over 689 VSATs located in 127 cities of the country and utilises one full transponder on INSAT 3B.

The INFINET is primarily a TCP/IP based network. A detailed IP addressing scheme has been devised by IDRBT for all CUG members, which has to be strictly followed by all  CUG members while interacting via the communication backbone.

Inventory and Analysis of Banking Software
 
Inventory and Analysis of Banking Software Applications provides information regarding the requirements and availability of software solutions for Banks and Financial Institutions. This is an attempt to provide a common platform for the end-users in the Financial Sector and the Software Vendors and Developers in this field.

We have compiled the responses received from various Software Vendors, Banks and Financial institutions. We are furnishing here the details under three broad headings:

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