OVERVIEW

India has rapidly changed in the last decade. Profound shifts in politics, our economy, public policy and the advent of digitisation can be attributed to the everchanging Indian landscape.

Over the years, the Indian banking sector has evolved in their operational and customer service outlook. Banks have been under tremendous pressure to accomodate the ever-evolving customer needs and changing market dynamics. Therefore, Banks have been mandated to do more than just the age-old functions of lending and deposits.

The state-of-the-art infrastructure built by IFTAS has been endorsed as ‘critical infrastructure for the country’, with flagship payment products and services used by the Indian Banking and Finance Community. Today, IFTAS hand-holds banks, financial institutions and corporates, to innovatively manage all payment related functions.

IFTAS was established to facilitate the smooth functioning of banks, supporting them to innovate, and to craft unique digital banking experiences. Indian Financial Technology and Allied Services (IFTAS) is a wholly owned subsidiary of the Reserve Bank of India, mandated to design, deploy & support IT-related services to the Reserve Bank of India, and all Banks and Financial Institutions in the country.

At IFTAS, it is in our DNA to simplify services with innovation, increased efficiency and build resilient system with the utmost level of security.

Our core competencies is to manage & operate the Financial messaging platform (SFMS) for India’s largest and critical payment system, comprising of Real-Time Gross Settlement and National Electronic Funds Transfer & the underlying closed user group Payment System network (INFINET) connecting all of India’s financial institutions. IFTAS operates CLOUD (Indian Banking Community Cloud), the only community cloud in the country, hosting cloud based solutions (Platform, Core, Channel, Corporate, etc.) dedicated to the Banking & Financial Community.

Board of Directors

Leadership Team

Tavarna Rabi Sankar

A career central banker with experience invarious aspects of central banking – exchange rate management, reserves portfolio management,public debt management,monetary operations and development, regulation and surveillance of financial markets, payment systems and IT infrastructure.
Mr. Tavarna is M.Phil. (Economics) from JNU,New Delhi and is member of important committees which includes Internal Study Group to Review the Working of the Marginal Cost of Funds Based Lending Rate System,Working Group to Review of the Guidelines for Hedging of Commodity Price Risk by Residents in the Overseas Markets, Expert Committee on Integration of Commodity Spot and Derivative Markets, Working Group on Establishing Viable Capital Markets and Working Group on Dollar Funding Markets. He was selected by IMF to be on their roster of experts. During 2005-2011 he was the IMF Consultant to Bangladesh (Government and Central Bank) on Developing Government Bond Markets and restructuring the debt management process.

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Dr N. Rajendran

Dr N Rajendran is a Ph.D. in computer science and a leading expert in the field of Payments & Banking Systems. He has consistently excelled and succeeded in delivering at multiple technical leadership positions for over 20 years of his industry presence and experience. He has an outstanding track record in strategizing, people and technology management, cybersecurity, administration, thought leadership and project & business execution.
Dr N Rajendran, has been a facilitator and builder of a world-class technology with proven capability. A complex and diverse range of cost-effective payment systems products for digital, financial and banking services have all been rolled out by beating the timelines.
“In his previous role as Chief Technology Officer – NPCI, Dr Rajendran has conceptualised, implemented and operationalized National Financial Switch (NFS) and Cheque Truncation System (CTS), Immediate Payment Service (IMPS), National Automated Clearing House (NACH), Aadhar Enabled Payment System (AEPS), etc”.
Dr.N. Rajendran has helped transform India into a digitally empowered society and knowledge economy; he has been the chief architect in creating and implementing ground-breaking systems such as Unified Payments Interface (UPI) which is rapidly increasing its footprint in digital payments revolution across India as well as the most domestically successful card scheme (RuPay) for E-commerce, POS and ATM channels.”
The CEO of IFTAS is a highly experienced, deeply accomplished and sought after professional who has been a member of multiple national level highly empowered and valued associations such as on Board of Punjab and Sind Bank, member of Technical Advisory Group to various boards / Committees of Reserve Bank of India, Securities & Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority(PFRDA), Goods and Services Tax Network (GST Network) GSTN, Deposit Insurance and Credit Guarantee Corporation (DICGC), EMV CO, Bank of India and CDSL.

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Sachin Y. Shende

Mr Sachin Shende comes to us from RBI, where he was a General Manager, in charge of RBI’s Primary Data Centre, managing numerous critical systems of national importance. He has had a progressively rich experience in RBI, starting as a Manager in 1999. Prior to that, he has had brief stint with Bharat Petroleum and was associated with Allied Civil Services. Mr Shende is a graduate of Computer Science from NIT Nagpur and a Finance MBA from the University of Florida.

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R Subramaniakumar

Shri R Subramaniakumar is an Ex. MD & CEO – IOB and EX ED- Indian Bank. By qualification he is Physics graduate with PGDCA, CISA & CISM from ISACA, USA. He has worked across the banking spectrum and geography. His Banking career commenced with Punjab National Bank. He was instrumental in creating information security and digital verticals in PNB, established Domestic and overseas Data Centre, DRS and the overseas back office operations for PNB, designed cost effective RRB CBS solution for the Bank’s RRBs and it was adopted by many other banks and Instrumental in creating systems and procedures, apart from trained manpower for all overseas subsidiaries and JVs and Conceived the Innovative FI (Financial inclusion) solution for the Bank along with end to end operational procedures.He has been a member of IDRBT committee of smart card standards and member of IBA-IDRBT committee on Micro ATM and the FI standards

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Deepak Kumar

Deepak Kumar is an accomplished technology leader and practitioner in banking space. He has been working with Reserve Bank of India since 1990; and is currently serving as Chief General Manager, Department of Information Technology, Reserve Bank of India. Earlier, he has worked in various areas of RBI including currency distribution, HR, payment system, commercial bank supervision, foreign exchange regulation and supervision, information technology, etc. Mr. Kumar has done Post Graduation in Economics, and Ph. D on the subject of ‘Impact of Computerisation on Banking Industry during the Nineties’. He has also done PG Diploma in International Marketing from Delhi School of Economics. He takes keen interest in technology and has kept himself abreast with latest technology trends such as Big Data, Hadoop and Business Analytics.

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Prof. H. Krishnamurthy

Prof. H. Krishnamurthy served the Indian Institute of Science for more than three decades and Retired as a Chief Research Scientist in 2017. His focus areas are Networks and Security in particular and Banking Technologies in General. He serves as Chairman/Member of several technology initiatives of RBI, SEBI, IRDAI and PFRDA. He is on the Boards of Insurance Information Bureau (IIB) and Institute of Insurance and a Risk Management (IIRM). He served on the Boards of Indian Institute of Banking and Finance (IIBF), IDRBT and Canara Bank in the past.

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P. Parthasarathi, Director

P. Parthasarathi is a technology expert having more than three decades of experience. Currently with IDRBT, Banking Technology Institute established by RBI, as Chief Technology Officer. Involved with Cyber Security, management of the threat intelligence platform, Certifying Authority operations, Technology consultancy to banks and other key technology initiatives of the Institute. Has contributed to technology publications/guidance notes/white papers of the Institute. He was with RBI for more than thirty years and last served as Chief General Manager, IT. He also served briefly as CISO. During his long career, has led several IT initiatives of RBI. His experience includes Data Centre operations and IT & Non-IT infrastructure management, BCP and DR, SOC implementation, Payment Systems, Supervisory off-site Surveillance Systems, Fraud Reporting Systems, IS Policy etc. He led a Committee which brought out the Report on Data Standardisation. Also served as member of many Technical Advisory and Working Groups of RBI. He is a post graduate in Statistics and MBA in Information Systems beside CAIIB and CeISB of IIBF.

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Prof. G. Sivakumar

Prof. G. Sivakumar has been on the faculty of the Department of Computer Science and Engineering, IIT Bombay, since 1991. His core research interests are in the applications of Logic in diverse areas of Computer Science such as Artificial Intelligence, Software Engineering and Network Security. He is the Head of the Centre for Formal Design and Verification of Software (CFDVS) which undertakes projects related to design and verification of safety critical real-time systems. Such systems include computer based control systems used in nuclear reactors, space, avionics, process-control and robotics.Prof. Sivakumar has published over 25 papers in reputed journals and conferences. He has supervised 5 Ph.D. theses and over 80 Master’s theses. He has served as a member of IIT Bombay’s Board of Governor’s (2006-2007), and on the Governing Council of IDRBT since 2005. He was a Founder Member of the Open Source Software Resource Centre (with IBM and CDAC) and has chaired the Committee on Interoperability Framework for Open Standards in E-governance. He serves on several Technology Advisory Committees including those of RBI, NPCI, CCIL, NSDL and SEBI. Prof. Sivakumar’s other passions include chess, carnatic music and Sanskrit.

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Dr N. Rajendran

Dr N Rajendran is a Ph.D. in computer science and a leading expert in the field of Payments & Banking Systems. He has consistently excelled and succeeded in delivering at multiple technical leadership positions for over 20 years of his industry presence and experience. He has an outstanding track record in strategizing, people and technology management, cybersecurity, administration, thought leadership and project & business execution.
Dr N Rajendran, has been a facilitator and builder of a world-class technology with proven capability. A complex and diverse range of cost-effective payment systems products for digital, financial and banking services have all been rolled out by beating the timelines.
“In his previous role as Chief Technology Officer – NPCI, Dr Rajendran has conceptualised, implemented and operationalized National Financial Switch (NFS) and Cheque Truncation System (CTS), Immediate Payment Service (IMPS), National Automated Clearing House (NACH), Aadhar Enabled Payment System (AEPS), etc”.
Dr.N. Rajendran has helped transform India into a digitally empowered society and knowledge economy; he has been the chief architect in creating and implementing ground-breaking systems such as Unified Payments Interface (UPI) which is rapidly increasing its footprint in digital payments revolution across India as well as the most domestically successful card scheme (RuPay) for E-commerce, POS and ATM channels.”
The CEO of IFTAS is a highly experienced, deeply accomplished and sought after professional who has been a member of multiple national level highly empowered and valued associations such as on Board of Punjab and Sind Bank, member of Technical Advisory Group to various boards / Committees of Reserve Bank of India, Securities & Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority(PFRDA), Goods and Services Tax Network (GST Network) GSTN, Deposit Insurance and Credit Guarantee Corporation (DICGC), EMV CO, Bank of India and CDSL.

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Sachin Y. Shende

Mr Sachin Shende comes to us from RBI, where he was a General Manager, in charge of RBI’s Kharghar Data Centre, managing numerous critical systems of national importance. He has had a progressively rich experience in RBI, starting as a Manager in 1999. Prior to that, he has had brief stint with Bharat Petroleum and was associated with Allied Civil Services. Mr Shende is a graduate of Computer Science from NIT Nagpur and a Finance MBA from the University of Florida.

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Prasad Nambiar

Prasad brings in 22 years of rich knowledge across IT, telecom, managed services and other industries, and has hands on experience in managing datacentre, network, and security practices. He has held several leadership roles in organizations like Airtel, Reliance, Cisco & others prior to joining IFTAS. Prasad has been involved in strategy, technology development & execution for various financial institutions including Private sector banks, Public sector banks, Co-operative banks, Foreign banks and Non-Banking financial institutions. Prasad’s previous role was as an entrepreneur, where he incubated WhiteRock Consulting, an organization focused on building technology solutions like big data, analytics & infrastructure management for various industries including agriculture, manufacturing & shipping. Prasad also works for the cause of sustainable agriculture, spending his free time developing integrated farming concepts at rural level, bringing communities together for collective farming, and helping villages with water harvesting & conservation techniques.

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Anil Tikoo

Anil has over two decades of experience in IT / ITeS industry handling Sales, Marketing & Business Enablement roles. Prior to joining IFTAS, Anil worked with several industry leaders like HCL Technologies, Polaris Financial Technologies & NIIT Technologies, where he helped these organizations drive growth & visibility in chosen verticals through select marketing programs, opened doors in global geographies and added new customers and partnerships. Anil has also handled Country Operations for Japan, Switzerland, Germany and has also been a Business Head for Asia & Australia. Anil is an Engineering graduate in Electronics, from Bangalore University.

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