Institute for Development & Research in Banking Technology (IDRBT) is a banking research institute established in 1996 by Reserve Bank of India (RBI). It is located in Hyderabad, India. RBI established IDRBT with the aim of providing the operational service support in information technology to banks and financial institutions. The first phase of reforms in the Indian financial sector precipitated the need for an apex-level institute for implementing banking technology and technology absorption in the Indian banking and financial sector.
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IDRBT is also an academic institution that offers a range of academic and research programmes, designed specifically to meet both the existing and emerging requirements of the Banking and Financial Sector in India.
IDRBT also offers consultancy in banking technology and related areas to banks and financial institutions. Consultancy is taken up not only for solutions offered by the Institute but also in the various routine facets of I.T. in banking. Some of the areas of consultancy are security technologies, IT strategy, technology planning and upgrades, networking, electronic payment systems, information systems audit, IT infrastructure audit, information security policy, data warehousing, data mining, risk management, customer relationship management and beyond-core banking.
History
IDRBT was set up by the RBI in 1996. The RBI formed a committee on "Technology Upgradation in the Payment Systems". The committee recommended a variety of payment applications which can be implemented with appropriate technology upgrades and development of a reliable communication network. As a result of the committee's recommendations the institute was established.
Organisation
IDRBT has IBA banks among its members.
Activities
IDRBT has set up National Financial Switch in 2004.
It was handling all the payment authentications until 2009, before transferring to National Payments Corporation of India. It has also developed common and interoperable standards for all banks in the country.
Academics
IDRBT is the only Institute in India which exclusively focuses on Banking Technology. The Academic Programs, currently being offered by the Institute are: