Indian Financial Technology & Allied Services (IFTAS) is a wholly-owned subsidiary of the Reserve Bank of India, that designs, deploys & provides the essential IT-related services, required by the Reserve Bank of India, banks, and financial institutions. Our flagship payment products and services are a critical part of India’s financial infrastructure, connecting banking and financial institutions across the country, reliably and securely.
Powered by state-of-the-art innovation and cutting-edge technology, IFTAS aims to be a long-term partner for the Indian banking and finance community. Through our unremitting focus on excellence, we ensure that the nation enjoys uninterrupted banking services 24/7, 365 days a year.
Our products and services are central to everything we do at IFTAS. Indian Financial Network (INFINET) is the underlying closed user group Payment System network connecting India’s financial institutions. Structured Financial Messaging System (SFMS) serves as the backbone Messaging platform and the Indian standard for inter-bank Financial Messaging for Centralized Payment system viz. National Electronic Fund Transfer (NEFT) and Real-Time Gross Settlement (RTGS). IFTAS is also the service provider for NEFT application.
IFTAS has introduced its Advisory Services to consult and guide both domestic banks and Central Banks of countries in terms of the technology, governance, process, tools, skills, etc. on the National Payment System, the underlying financial network and various Digital initiatives.
To be the most trusted technology and financial services organization that delivers technology and business excellence in products and services to the Central Bank and the Banking and Financial sector in India and globally.
Powered by our expertise and driven by the national goals of digitalization and financial inclusion, our Mission is to deliver accessible, affordable, available, simple, secure and sustainable Payment and IT solutions, enabling increasing reach to the last mile.
Global Interchange for Financial Transactions (GIFT), is an integrated Payment & Settlement system that has been created by IFTAS to provide straight-through processing (STP) inter-bank transactions, supporting batched, gross & bulk settlement modes. GIFT is intuitively designed to improve operational efficiency of a country’s payment system.
The Indian Banking Community Cloud is a unique community cloud dedicated to the Banking & Financial Community of India, hosting cloud-based solutions like Mobility solutions comprising Wallet, Mobile Banking, Financial Inclusion Business Correspondent, etc. to enable digitization of banks and help them in their Financial Inclusion initiatives; Learning Management Solution provides an online platform to enhance the skillset & help banks to set & achieve learning and development goals; Virtualised infrastructures of various suites provides a ready-made built-in platform for banks to leverage and host their solutions.
IFTAS was established in February 2015 by the Institute for Development and Research in Banking Technology (IDRBT), an autonomous organization funded by the Reserve Bank of India, in pursuance of the recommendation of the Rangarajan Committee (2009). Considering the nature, scope & object of services offered, it was incorporated as a “Not-for-profit” company, under the provisions of Section 8 of Indian Companies Act, 2013. IFTAS was wholly acquired by the Reserve Bank of India through its authorized representatives in March 2019.