The Payment Systems and Banking Technology Department is headed by a Senior Advisor with two Managers. The Department is working towards representing Indian Banking Industry concerns on technological aspects to Reserve Bank of India, Ministry of Finance & other government institutions. The department also consolidates the views of banking industry for submission to RBI/ Various Ministries mainly DFS, MeiTy, UIDAI, MoRD, MCA, NPCI etc to facilitate formation of policy and guidelines by RBI and concerned Ministry. The department also conducts regular meetings with bankers for reviewing and discussing on technology related aspects of banking like card related issues, IT Security, SWIFT, Aadhaar, BC Registry etc. Our department's proactive engagement in government consultations, both virtually and in person, solidifies the IBA's role as a key influencer in shaping the future of banking technology in India.
IBA has been focusing on the payment and settlement systems related issues and developments for a long period of time. The IBA's engagement, both directly and indirectly, allows for the effective management of critical issues within this segment. The Standing Committee on Payment Systems and Technology continuously takes up the issues for guidance to the member banks.