Post Graduate Diploma in Banking Technology
The INSTITUTE
The Institute for Development and Research in Banking and Technology (IDRBT) was established by the Reserve Bank of India in 1996 as a Society and governed by the Governing Council comprising members from Academia, Reserve Bank, Banking Sector. The objectives are development and research to adopt and absorb emerging technology in innovative way for digital transformation of banks and financial sector.
The Journey
Indian Financial Network (INFINET) was planned as a closed user group, for secure reliable and sustainable high speed Network for banks.
The Institute
The Institute for Development and Research in Banking and Technology (IDRBT) was established by the Reserve Bank of India in 1996 as a Society and governed by the Governing Council comprising members form Academia, Reserve Bank, Banking Sector. The objectives are development and research to adopt and absorb emerging technology in innovative way for digital transformation of banks and financial sector.
The Journey
Indian Financial Network (INFINET) was planned as a closed user group, for secure reliable and sustainable high speed Network for banks. In June 1999, INFINET was launched as a closed user group (CUG) private network with Dish Antenna- INSAT- 3B, upgraded to Terrestrial Leased Lines and further to as Multiprotocol Label Switching (MPLS) for a scalable and protocol-independent technique. MPLS helps to boost the speed of network traffic amongst CUG under encrypted environment. Over the period, INFINET has efficiently functioned as backbone of digital financial infrastructure in banking sector.
Structured Financial Messaging System (SFMS) was launched on December 14, 2001 as a secure messaging standard developed to serve as a platform for intra-bank and inter-bank applications. SFMS is used by applications like National Electronic Funds Transfer (NEFT), Real Time Gross Settlement Systems (RTGS), Delivery versus Payments (DvP) for Government securities, Centralised Funds Management Systems (CFMS) for Government besides other applications of our payment system.
IDRBT comprehended the idea to create National Financial Switch (NFS) to link the country's ATMs in a single network in August 2003, and was launched in August 2004, and by December 2009, the network had grown to connect 49,880 ATMs of various banks. IDRBT hived off its operational role on NFS for ATMs network to National Payments Corporation of India (NPCI) on ‘as is where is basis’ in October 2009.
RTGS was launched on March 26, 2004 as a secure electronic fund transfer system that provides real-time settlement for transactions on one-to-one gross basis. Thereafter NEFT, a secure, reliable, and efficient way for inter-bank/inter-branch online fund transfer was launched in November 2005. Both RTGS and NEFT were developed at IDRBT using the SFMS and INFINET infrastructure. RTGS (since Dec 2020) and NEFT (since Dec 2019) runs on 24x365 basis. Today, both the systems put together facilitate all types of payment system - to name a few UPI, IMPS, ATM, NACH, etc., is used for all types of inter-bank fund transfers.
Indian Banking Community Cloud (IBCC) was unveiled on August 2, 2013, as a secure cloud infrastructure that fosters collaboration and resource sharing amongst banks, further fortifying the financial ecosystem.
IDRBT hived off the system and infrastructure for INFINET, SFMS, RTGS, NEFT and IBCC to its subsidiary IFTAS in February 2015, which was subsequently transferred to RBI in 2019.
IDRBT is the certifying authority (CA) for the Indian banking and financial sector, under IT Act 2000. The digital certificates being issued by IDRBT are used by the RBI, banks and other financial institutions to exchange electronic messages between banks ensuring authenticity, integrity, non-repudiation and confidentiality.
Development & Research
IDRBT through its applied Research attempt to develop appropriate platform/system/ standard for adoption and absorption of emerging technologies for digital transformation of the banking industry. These efforts had brought operational ease, efficiency and better experience for customers. Over the period, IDRBT has also evolved as a prime center for Academics, Executive Education, Best practices, Consultancy, Development of standards, frameworks, etc., to the Banking and Financial Sector on Technology, Technology Infrastructure, Technology Management and related areas.
The Institute has 6 Research Centres with associated state-of-the-art labs focusing on experiments in areas such as Analytics, Artificial Intelligence, Machine Learning, Cyber Security, Ethical Hacking, Digital Privacy, Networks, Cloud Computing, 5G, Internet of Things, Mobile and Social Media Banking, Banking Use Case Innovation, Open Source, Quantum Safe Cryptography, Quantum Communications, Distributed Ledger Technologies and Digital Payments.
Training and education programs form an inherent part of IDRBT's initiatives in aiding emerging technology absorption in the banking and financial sector. The institute's programs are structured to prepare the top and middle-level management of Banks and other Financial Institutions. The institute has collaborations with premiere Institutions such as IITs, NITs, University of Hyderabad and adding more for Ph.D. and M.Tech.(IT) programs with IDRBT Fellowship. The institute publishes its Journal of Banking and Financial Technology (JBFT) through Springer.
IDRBT has formed Forum for Chief Information Security Officers (CISO) as early as 2010 and thereafter Chief Information Officers Forum (2015), Chief Analytics Officers Forum (CAO) (2016) and recently the FinTech Forum.
In order to meet the ICT industry and banking sector demand, the IDRBT launched the Post Graduate Diploma in Banking Technology (PGDBT) in July 2016. It is a unique programme designed to provide a pool of talented professionals with technology expertise to support their technology deployment initiatives and efficient operation and maintenance.
The PGDBT is a full-time regular one-year programme that provides essential learning inputs on technology implementation, integration and management to enable the candidates to meet the changing technology requirements in the country for specific focus on BFSI sector.
The Course
The Indian Banking and Financial Sector is banking on technology to deliver efficient and effective customer service, reduce cost and improve profitability, to reach out to the unbanked, and implement their growth strategy. Therefore, there is a significant and urgent demand for talented people with expertise in technology and its management.
In order to meet this pressing demand, the Institute launched the Post Graduate Diploma in Banking Technology (PGDBT) in July 2016. It is a unique programme designed to provide the Indian Banking and Financial Sector, on a regular basis, a pool of talented professionals with technology expertise to strongly support their technology deployment initiatives.
The Course
The Indian Banking and Financial Sector is banking on technology to deliver efficient and effective customer service, reduce cost and improve profitability, to reach out to the unbanked, and implement their growth strategy. Therefore, there is a significant and urgent demand for talented people with expertise in technology and its management.
In order to meet this pressing demand, the Institute launched the Post Graduate Diploma in Banking Technology (PGDBT) in July 2016. It is a unique programme designed to provide the Indian Banking and Financial Sector, on a regular basis, a pool of talented professionals with technology expertise to strongly support their technology deployment initiatives.
The PGDBT is a full-time regular one-year programme that provides essential learning inputs on technology implementation, integration and management so as to enable the candidates to meet the changing technology requirements of the Banking and Financial Sector.
The programme focuses on current as well as emerging technologies that can contribute to the growth of banks and financial institutions. The PGDBT aims to produce techno-savvy professionals, who would use the latest and best technologies, to fuel growth and make the Indian Banking and Financial Sector techno-efficient.
Pedagogy
The PGDBT banks on a highly-interactive method of learning. Apart from lectures and seminars, interactive sessions with experts from IT industry and senior bankers constitute an integral learning component. The programme depends heavily on hands-on practical learning in various state-of-the-art Research Centres of the Institute.
The Research Centres of the Institute are:
- Centre of Artificial Intelligence & Machine Learning
- Centre for Cyber Security and Data Privacy
- Centre for Emerging Networks and Cloud Computing
- Centre for Open and Digital Banking
- Centre for Quantum Computing
- Centre for Distributed Ledger & Innovation
There would also be case studies to ensure effective transfer of knowledge through sharpened analytical skills and induced innovative thought processes.
Faculty
IDRBT Faculty, researchers / academicians from reputed institutions including foreign universities; experts from organisations like CERT-In, C-DAC, Digital Forensics labs and senior officials from Reserve Bank of India, banks, IT Industry and FinTech companies.
Benefits for Students & Banks
- Intensive, in-depth exposure to the varied facets of Banking Technology
- In-depth understanding of various ways of applying technology for improved productivity in the Indian Banking and Financial Sector
- Exposure to hands-on Practical Learning and exclusive Case Studies on Technology Implementation in various banks in India and abroad
- A rigorous regimen which would enable students to stand apart in project planning and implementation in technology-related areas
- Technical and managerial mastery over the entire gamut of Banking Technology
- There is a strong demand for techno-savvy talent in the Banking and Financial Sector as well as in the IT companies, which work in the Banking and Financial Services domain. The PGDBT addresses precisely this need
- PGDBT will create well-groomed, talented executives who are well-versed with Technology and its management for Banking and Financial Services Industry (BFSI).
Eligibility
The Post Graduate Diploma in Banking Technology (PGDBT) is open both to the Direct Candidates and Sponsored Candidates/Employees of Banks and Financial Institutions. The eligibility criteria for the PGDBT is as under:
Direct Candidates
A candidate must hold a first class (minimum of 60% marks) Bachelor's Degree in Engineering OR a first class Master's Degree in any subject with a minimum of 10+2+4 years of formal education. Candidates who are in the final year are also eligible to apply provided they complete the formal education as specified above latest by June 30, 2024.
All direct candidates need to possess a valid score of any one of the following test at the time of submitting the application form.
- Graduate Aptitude Test in Engineering (GATE)
- Common Admission Test (CAT)
- Graduate Management Admission Test (GMAT)
- Graduate Record Examinations (GRE)
- Common Management Admission Test (CMAT)
- Xavier Aptitude Test (XAT)
- Management Aptitude Test (MAT)
- AIMS Test for Management Admissions (ATMA)
The Institute would shortlist the candidates for Group Discussion and Personal Interview (GDPI) based on their GATE / CAT / GMAT / GRE / CMAT / XAT / MAT / ATMA scores. Thereafter, the actual selection for admission is based on the scores of the candidates in the GDPI.
Sponsored/Direct Candidates from Banks and Financial Institutions
Banks and Financial Institutions can sponsor their employees for the Post Graduate Diploma in Banking Technology (PGDBT). Employees of Banks and Financial Institutions may also apply directly for the PGDBT. Candidates in both these categories too must hold a first class (minimum of 60% marks) Bachelor's Degree in Engineering OR a first class Master's degree in any subject with a minimum of 10+2+4 years of formal education but NEED NOT have GATE / CAT / GMAT / GRE / CMAT / XAT / MAT / ATMA scores.
However, such candidates need to participate in Group Discussion and Personal Interview (GDPI) and the selection for admission is based on the scores of the candidates in the GDPI.
Sponsoring Banks and Financial Institutions / Employees of Banks and Financial Institutions may please note that the PGDBT is a full-time programme and accordingly, selected candidates would need to be relieved from their duties / granted leave, during the entire duration of the programme, i.e., one year. Employees of Banks and Financial Institutions who have directly applied would also need to submit a no-objection certificate from their Bank / Financial Institution to pursue the PGDBT.
All educational qualifications must have been obtained from recognised universities/institutions in India or abroad. If grades are awarded instead of marks, candidates should clearly indicate their numerical equivalent.
Intake
The annual intake for the Post Graduate Diploma in Banking Technology (PGDBT) is up to 40 (forty), of which up to 10 seats are earmarked for sponsored / direct candidates from banks and financial institutions.
Certification
Candidates, on successful completion of all the courses, including project work, will be awarded the Post Graduate Diploma in Banking Technology. This Diploma will be awarded to the students during the Annual Function at IDRBT.
Fee
The fee is to be paid in four equal installments at the start of the first four terms. The fee for the programme, per candidate, is as under:
| S. No. | Particulars | Amount to be paid |
|---|---|---|
| 1. | First Installment | Rs. 1,25,000/- plus taxes |
| 2. | Second Installment | Rs. 1,25,000/- plus taxes |
| 3. | Third Installment | Rs. 1,25,000/- plus taxes |
| 4. | Fourth Installment | Rs. 1,25,000/- plus taxes |
The above mentioned fee covers teaching, course material and shared-accommodation costs at the Institute's Quarters in Begumpet, Hyderabad.
Candidates also need to pay a caution deposit of Rs. 10,000/-, (Rupees Ten Thousand only), at the time of admission, which may be refunded after successful completion of the course on submission of no-dues certificate and a non-refundable Alumni Fee of Rs. 5,000/- (Rupees Five Thousand only). Students may avail the Institute's cafeteria facility by paying the additional applicable charges to the caterer directly.
Funding
Please note that the Indian Bank and Union Bank of India offer Education Loans for the Post Graduate Diploma in Banking Technology.
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Placements
As this programme is specifically designed to meet the demands of the Banking and Financial Sector, successful students are likely to be placed in banks, financial institutions and IT companies serving the Indian Banking and Financial Sector. The Institute will facilitate placement for the performing PGDBT students by inviting the prospective employers to the Institute.
The Institute has achieved Good Placements even before the completion of the third term of the PGDBT for all prior batches with an average package of 9 Lakhs per annum. The details of the placements of the six batches are given below:
Our PGDBTians are Currently Working With
