obtains license to act as Certifying Authority
Institute for Development and Research in Banking Technology (IDRBT), an
autonomous body set up by the Reserve Bank of India, is now a Certifying
Authority (CA), licensed by the Controller of Certification Authority (CCA),
Government of India. The formal approval as Certifying Authority was handed over
to Dr. V.P. Gulati, Director, IDRBT, by Dr. K.N. Gupta, CCA, on August 8, 2002,
at an impressive function organised at Mumbai.
license confirms that IDRBT has attained excellent standards in its overall key
management, systems and operations. Significantly, it asserts IDRBT CA's
certificate policies and practices to be of high standards, which is critical in
its role as a Certifying Authority. As a Certification Authority, IDRBTís role
entails registration, issuance, renewal, suspension and revocation of digital
certificates to applicants. It also necessitates careful verification of the
the Digital Certificates issued by IDRBT Banks and Financial Institutions can
now look forward to have full-fledged
security in their electronic communications, intra-bank and inter-bank
applications and messaging which will go a long way in facilitating speedy,
secure and cost-effective financial transactions to improve customer service and
satisfaction. The Digital
Certificates issued by IDRBT comply with the X.509 Standards to individuals and
servers in and it will fulfil the need for Trusted
Third Party services in Electronic Commerce. All Classes of Certificates
issued by IDRBT CA shall be Digital Certificates under the IT Act, and the legal
effect, conjecture and evidentiary value of Digital Certificates as provided in
the IT Act will be applicable.
number of Financial and Banking Applications such as Structured Financial
Messaging Solution, Real Time Gross Settlement, Centralised Funds Management
System etc., and banksí own applications will now benefit from the Secured
Messaging and Transactions using Digital Certificates and Digital Signatures.
IDRBT has set up a high-end, state-of-the-art processing Center at its campus at Hyderabad, capable of issuing any number of Digital Certificates, an important component of Public Key Infrastructure.