INFINET - Indian Financial Network

INDIAN FINANCIAL NETWORK

INFINET - Evolution

• RBI formed a committee on 1994 to study"Technology Up gradation in the Payment Systems".

• Institute for Development & Research in Banking Technology [IDRBT] established in 1996.

• RBI instructed IDRBT to setup reliable nationwide communication backbone for the Banks and Financial Institutions.

•IDRBT established the VSAT based INFINET Network at the IDRBT Campus, Hyderabad.

•A Very Small Aperture Terminal (VSAT) is a two-way satellite ground station.

•The Network inaugurated on  June 19, 1999.

• The Hub site is owned, managed and operated by IDRBT.

• Remote VSATs, installed across the country over 300 locations are owned by respective member banks.

• Terrestrial Network (Leased Line) connecting 21 cities commissioned and made operational in the year 2001.

• The terrestrial network seamlessly integrated with VSAT Network.

• The entire Network managed through Integrated Network Management System (UniCentre TNG and CISCO Works).

• 24 X 7 Network management from two locations namely at IDRBT, Hyderabad and RBI, Mumbai.

INFINET - Architecture

THE INFINET VSAT NETWORK

INFINET (LEASED LINE) BACKBONE NETWORK

Structured Financial Messaging System

• Firewall

• Intrusion Detection System (IDS)

• Virtual Private Network (VPN)

• Antivirus Solutions

Network Security Components

INFINET - Applications

INTRA BANK

• The transaction taking place within the Bank such as Funds Transfer, E-Mail, HR, Personnel and Administrator etc.

• Branches Head Quarter / Regional Office/Zonal Office / Specialized Branches.

Banking Application

• Funds transfer and payment message (Intra-bank).• Inter Branch Reconciliation (IBR).• Quick disposal of loan / investment proposal.• Forex information from branches to the office dealing in Forex.• Fund information from clearing centers to the fund

management office for optimal allocation of funds.• Cash Management Product.• Treasury Management (TM).• Any Branch Banking.

INTER-BANK

• The transaction taking place between the Banks, between the Bank and Central Bank (RBI) such as Clearing and Settlement, Electronic Fund Transfers (EFTs) etc.

Banking Application

• Electronic Funds Transfer (EFT).• Clearing and settlement systems.• Exchange of Defaulting Borrowers list among RBI and banks.• Shared ATMs Network.• EDI services to the extent they pertain to payment cycle of

EDI.• Currency chest accounting.• Reporting of government account transactions (Central and

State Governments).• Reporting of BSR, R-Returns to RBI.• Asset Liability Management (for reporting to RBI).

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