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Showing posts with label IDRBT. Show all posts
Showing posts with label IDRBT. Show all posts

Tuesday, March 26, 2019

Reserve Bank of India to unveil Regulatory Sandbox in the next two months



          At 25th March, 2019,  NITI Aayog’s FinTech Conclave’s Keynote Address Shri Shaktikanta Das, Governor, Reserve Bank of India, mentioned about the need for Regulatory Sandbox.

          The theme of the keynote address is “Opportunities and Challenges of FinTech”

Quote

 The Reserve Bank’s working group on FinTech and digital banking (Report of the working group on FinTech and digital banking, November 2017) suggested the introduction of a 'regulatory sandbox/innovation hub' within a well-defined space and duration to experiment with FinTech solutions, where the consequences of failure can be contained and reasons for failure analysed. A ‘Regulatory Sandbox’ would benefit FinTech companies by way of reduced time to launch innovative products at a lower cost. Going forward, the Reserve Bank will set up a regulatory sandbox, for which guidelines will be issued in the next two months.

Unquote

          In simple terms, Sandbox is an isolated environment in which new approaches can be tested before releasing for Live use.

          Developers can run their test-cases in a controlled environment to observe the IT Applications behaviour and fine-tune for live use.

Sandbox is a special security feature which allows you to run potentially suspicious applications automatically in a completely isolated environment. Programs running within the sandbox have limited access to organisation files and system, so there is no risk to your computer or any of your other files.

Regulators in major financial markets have established regulatory ‘sandbox’ or testing environment for furthering financial technology and adoption

SEBI in mid-2017 set up a ‘Committee on Financial and Regulatory Technologies (CFRT)

One of the committee’s objective is to finalised the ‘Approach  and  framework  for  regulatory  sandbox  in  Indian  market  conditions  to  facilitate adoption of FinTech and promote financial innovations’.

IRDA in late 2018 set up a committee to frame guidelines on ‘Regulatory Sandbox’, in Insurance space in India. The committee has submitted its key recommendations to IRDA. IRDA in turn has sought feedback from general public before releasing the final guidelines.

The Insurance Regulatory Sandbox would have defined entry and eligibility criteria, boundary conditions, process flow, timelines and success factors / exit parameters for the applicants, along with appropriate controls for protection and risk management.
  
The above terms will be common to Finance Regulatory Sandbox and Stock Market Regulatory Sandbox.

The word ‘Regulatory Sandbox’, is also mentioned in ‘Report of the Working Group on FinTech and Digital Banking’, submitted to Reserve Bank of India in November 2017.

On of the committee’s key recommendations is:

In view of IDRBT’s unique positioning as a research and development institute, and as indicated by some of its activities, it is felt that IDRBT is well placed to create and maintain a regulatory sandbox in collaboration with RBI for enabling innovators to experiment with their banking/payments solutions for eventual adoption.

The Institute may continue to interact with RBI, banks, solution providers regarding testing of new products and services and over a period of time upgrade its infrastructure and skill sets to provide full-fledged regulatory sandbox environment. The Reserve Bank of India may actively engage with the Institute in this regard.

Sunday, February 26, 2017

Windows open for IDRBT Project Trainee Scheme (IPTS - Summer 2017)


          Summer is around and students in the last year of Graduation or Post Graduation are on the lookout for Summer Projects.

          Students interested in the niche area of Banking Technology have a chance to be associated with IDBRT as part of a summer project.

          Eligibility : Students, who have completed at least two years of graduation or are pursuing post graduation in highly reputed Institutions, to carry out various projects in the area of Banking Technology during the summer of 2017

          Duration: Minimum 2 months

          Scope: Banking technology

          Interested students may apply to the Institute for Project Traineeship, clearly indicating their choice of projects.

Students are advised to indicate up to two projects in their order of preference and may apply for the “IDRBT Project Trainee Scheme” (IPTS) with the following:

  • A Cover Letter
  • A Detailed CV including the memorandum of marks in their area of specialization
  • Name of two projects, in order of preference
  • Letter of Recommendation from the student’s Institution
  • No Objection Certificate (NOC) from their respective Institution.
IDRBT  will scrutinize the applications received and the selected candidates shall be informed by IDRBT.

There shall be continuous monitoring of the Project by the Faculty/Project Guide and the Institute would evaluate the progress/benefits, etc., of the project

On completion of the Project, all the trainees are expected to make a presentation on the Project and also submit a report/working prototype/model to the Institute’s Library

The Project Trainees Reports are published on the Institute’s website after a year

  
     Students have an opportunity to apply for the below projects:
RESEARCH AREA: FINANCIAL NETWORKS AND APPLICATIONS
Project – 1: Tele Banking Services
Guide: Dr. V. N. Sastry, Professor



Project – 2: Multilingual Mobile Banking Services
Guide: Dr. V. N. Sastry, Professor

Project – 3: Digital Signature Based Workflow System for Office Automation
Guide: Dr. N. P. Dhavale, Associate Professor

RESEARCH AREA: SECURITY TECHNOLOGIES FOR THE FINANCIAL SECTOR

Project – 4: Authentication using Visual Cryptography
Guide: Dr. M. V. N. K. Prasad, Associate Professor

Project – 5: Biometric Cryptosystems
Guide: Dr. M. V. N. K. Prasad, Associate Professor

Project – 6: Static Analysis in Software Security
Guide: Dr. V. Radha, Assistant Professor

Project – 7: Software Defined Networks
Guide: Dr. V. Radha, Assistant Professor

Project – 8: Artificial Neural Network based Image Pixel Prediction for Reversible Data
Hiding
Guide: Dr. Rajarshi Pal, Assistant Professor

Project – 9: Design and Study of Crypto-malware
Guide: Dr. Rajarshi Pal, Assistant Professor

Project – 10: Verifiable Auditing for Outsourced Database in Cloud Computing
Guide: Dr. P. Syam Kumar, Assistant Professor

Project – 11: Exploiting Workload Characteristics and Service Diversity to Improve the
Availability of Cloud Storage Systems
Guide: Dr. P. Syam Kumar, Assistant Professor

RESEARCH AREA: FINANCIAL INFORMATION SYSTEMS AND ANALYTICS
Project – 12: Development of R-User Interface for Banking Analytics
Guide: Dr. V. Ravi, Professor

Project – 13: Evolutionary Computing for Banking Analytics
Guide: Dr. V. Ravi, Professor

Project – 14: Answering Geospatial Queries in Hadoop based Big Data Environment
Guide: Dr. Nagesh B. Sristy, Assistant Professor


Ancillary Benefits: -

  • Stipend of Rs.7,000/- (Rupees Seven Thousand only) per month to the selected Project Trainees.
  • Free Shared Accommodation Facility at the Institute's Quarters at Begumpet
  • Free Lunch and Dinner Facility in the Institute's Canteen
  • Library Facility during the working hours of the Institute.

Submission Deadline: On or before March 06, 2017.

Applications may be sent to:
IDRBT Project Trainee Scheme (IPTS)
Institute for Development and Research in Banking Technology
Castle Hills, Road No.1, Masab Tank,
Hyderabad-500 057.
Email: ipts@idrbt.ac.in

          This is only a summary of the IPTS 2017 program. Please refer to IDRBT website for the complete details.

IDRBT also offers the following Academic Programmes

v  IDRBT Post Doctoral Fellowship (IPDF)

v  IDRBT Ph.D Programme

v  Post Graduate Diploma in Banking Technology (PGDBT)

v  M.Tech Programme

v  IDRBT Research Project Scheme (IRPS)


v  IDRBT Project Trainee Scheme (IPTS)

Saturday, December 27, 2014

IDRBT Banking Technology Excellence Awards-An Introduction


            Apart from banking professionals in our country, IT Companies having banking products and IITian’s are familiar with IDBRT contribution to Safe eBanking in our country.
            It has been observed that competition brings out the best amongst peers.  Towards this end, IDRBT instituted the Annual Banking Technology Awards in the year 2001. This was just after IDRBT came into existence i.e 1996

            The year 2001 is a watershed year in the technology calendar. This was just after the world overcame the Y2K pangs.

            Apart from the spirit of healthy competition, the IDRBT Awards act as a catalyst for Banks to speed up the Technology Absorption process.

            The category of awards is not stagnant and keeps changing in tune with the current technology awards.

            The focus of the award categories is to recognize the efforts of banks aimed at improving customer service, customer convenience and Bank's productivity by leveraging technology.        
            Once the award categories for the particular year are announced, Banks are expected to nominate themselves in those categories best suited to them.

            Over the last 14 years, there have been few years in which the Awards were not announced. However, for the last six years the years have been continuously been awarded.

            The crème de la crème of Indian Banking industry and finance technological companies grace the Award Functions.

            The Award Function is held in November or December every year.
1st IDRBT Banking Technology Excellence Awards – Year 2001
2nd  IDRBT Banking Technology Excellence Awards – Year 2002
3rd  IDRBT Banking Technology Excellence Awards – Year 2003
 4th  IDRBT Banking Technology Excellence Awards – Year 2006
5th  IDRBT Banking Technology Excellence Awards – Year 2008
6th  IDRBT Banking Technology Excellence Awards – Year 2009
7th  IDRBT Banking Technology Excellence Awards – Year 2010
8th  IDRBT Banking Technology Excellence Awards – Year 2011
9th  IDRBT Banking Technology Excellence Awards – Year 2012
 10th IDRBT Banking Technology Excellence Awards – Year 2013

In the coming months, each year’s IDBRT Awards will be analyzed in detial


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