Overview

Information and Communication Technology (ICT) is a central and core component in the discharge of RBI’s functions. Technology is leveraged to provide best-in-class and environment friendly digital infrastructure including energy-efficient and paperless workplaces.

The department envisages to collect, process and store information entirely in digital form, through platforms which enable improving existing financial products and services and creating new ones, to serve the public and discharge its regulatory obligations with transparency, efficiency, and immediacy. The ICT strategy of RBI encompasses four-way approach as under:

• Transforming ICT architecture by enterprise-wide consistency across the applications through agility and assimilation of new technologies.

• Building modern applications through use of emerging technologies and tools like Robotic Process Automation (RPA), Next-Orbit Systems, Big Data Analytics etc.,

• Sustaining continuous operational excellence  through focus on resilience, reliability, and cost efficiency with guiding principles of “Security” and “Privacy” embedded in the design and architecture of IT systems.

• Strengthening IT Governance Standards by laying down standards for quality assurance, data integrity and data privacy.

The department functions under the guidance of the IT Sub-Committee (ITSC) of the Central Board, especially in matters relating to overall IT strategy, infrastructure and applications, IT and cyber security, Business Continuity Planning, IT project implementation, etc.

Functions: 

• Maintaining and operating critical payment systems and allied applications, namely, NEFT, RTGS and SFMS (messaging system); e-Kuber system that processes internal accounting and budgeting, besides providing banking services to Governments, banks, select financial institutions, etc.

• Broad policy formulation for IT Architecture in the Bank and accordingly augment, replace, and upgrade IT infrastructure on a continuous basis.

• Maintenance and upgradation of internal applications. 

• Information and Cyber Security based on zero trust-based approach and development of Cyber Hygiene Culture.

The department oversees Bank’s subsidiaries namely Indian Financial Technology and Allied Services(IFTAS) and Reserve Bank Information Technology Private Limited (ReBIT).

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