Institute for Development & Research in Banking Technology

Q.  Which of the following organizations has been set up to facilitate connectivity between the Bank's switches and their ATMs, and inter-bank payment gateway for authentication and routing the payment details of various e-commerce transactions?
- Published on 08 Feb 17

a. IBA
b. IDRBT
c. IRDA
d. SIDBI

ANSWER: IDRBT
 
Institute for Development & Research in Banking Technology is a banking research institute established by Reserve Bank of India in 1996.

It is located in Hyderabad, India.

Formation :
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.
  • IDRBT was established with the aim of providing the operational service support in information technology to banks and financial institutions.
  • IDRBT is also an academic institution that offers a range of academic and research programmes.
  • IDRBT also offers consultancy in banking technology and financial institutions.

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