Monetary Policy of IDRBT CA


IDRBT Certifying Authority has been issuing digital certificates to Banks/FIs since August 2002.  As per the existing monetary policy, below mentioned procedure is followed:

  1. To all Registration Authority (RA) offices which include Public Sector Banks, Private Sector Banks, Financial Institutions, Cooperative Banks and Reserve Bank of India, invoices are sent against the digital certificates issued to them on quarterly basis.

  2. To Banks/FIs, that do not have their own RA and use IDRBTís Registration Authority office, digital certificate charges are to be paid in advance.

As per the new monetary policy, below specified procedure need to be followed:

  1. All RAs (including Public Sector Banks, RBI & Private Sector Banks) as well as Banks/FIs that are using IDRBT as their RA, have to make payment of digital certificate charges prior to the issuance of certificates. Or

  2. All RAs (including Public Sector Banks, RBI & Private Sector Banks) as well as Banks/FIs that are using IDRBT as their RA, can deposit a lump sum amount with IDRBT CA. As and when the digital certificates are issued to the concerned bank, the digital certificate charges are deducted from the amount deposited with IDRBT. Subsequently, Banks/FIs will be updated about their credit balance on a regular basis.

Administrative Charges for banks using IDRBT as RA:

IDRBT Registration Authority at present charges Rs.5,000/- (Rupees Five Thousand Only) per 10 digital certificates or part thereof per bank per accounting year April to March, independent of the certificate class and the application for which certificates are used.  

W.e.f. April 01, 2006, Banks/FIs should pay administrative charges of Rs.500/- (Rupees Five Hundred Only) against each certificate (irrespective of certificate class, type and the application for which certificate is used) along with certificate cost. There is only change in procedure of collecting administrative charges but there is no change in the actual charges (Rs. 500/- per certificate in place of Rs. 5000/- for 10 certificates or part thereof).

Waiver Policy:

In the process of applying and downloading of digital certificates for applications such as RTGS, SFMS, CFTS, NEFT etc, it is found that the banks/FIs commit mistakes (includes filling wrong DN details in the certificate request etc). Hence, IDRBT CA has introduced waiver policy to lessen the burden of re-paying the certificate charges (only class 3 certificate). According to the waiver policy,

1.       To re-issue class 3 certificate, the bank/FI has to pay administrative charges of
   Rs. 500/- (Rupees Five Hundred Only) per certificate and the certificate cost is waived.

2.       In case of class 2 and class 1 certificate, there are no re-issuance charges and banks       pay cost of the concerned digital certificate.

The above-mentioned policy would come into effect from April 1, 2006. 

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