IDRBT

Institute for Development & Research in Banking Technology or IDRBT is a banking research institute, established in 1996 by Reserve Bank of India (RBI), and is located at Hyderabad, India.[1]

Contents

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 upgradation 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

IDBRT has set up National Financial Switch in 2004.[2]

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.[3]

References

  1. ^ "IDRBT - Infusing technology for efficient banking". The Hindu Business Line. 2006-03-21. http://www.thehindubusinessline.com/2006/03/21/stories/2006032102080700.htm. Retrieved 2010-08-11. 
  2. ^ http://www.cxotoday.com/India/News/IDRBT_Sets_Up_National_Financial_Switch/551-1191-908.html
  3. ^ "IDRBT developing interoperable standards for banks". The Hindu Business Line. 2009-05-19. http://www.thehindubusinessline.com/2009/05/19/stories/2009051951920600.htm. Retrieved 2010-08-11. 

External links