CURRENT AFFAIRS
CURRENT AFFAIRS
Description
In a major step toward enhancing the security and resilience of India’s digital payments landscape, the National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDRBT) signed a Memorandum of Understanding (MoU) on June 12, 2025. This partnership is focused on boosting cybersecurity capabilities, promoting digital preparedness, and upskilling the financial sector workforce.
As India’s digital payment systems continue to expand rapidly, the risk of cyber threats has also escalated. With a growing number of individuals and institutions relying on digital transactions, this collaboration is a timely initiative to build robust security infrastructure and professional expertise. Key features of the partnership include the rollout of an NPCI-certified cybersecurity programme and access to IDRBT’s advanced threat intelligence system, (IBCART 3.0).
Primary Goals Of MoU
Enhance cyber resilience within the retail and digital payments sector.
Introduce industry-aligned certification programmes focused on cybersecurity and data protection.
Deliver specialized training for professionals across financial institutions.
Strengthen cyber threat monitoring and response through the (IBCART 3.0) platform.
Highlights Of Agreement
Joint capacity-building and training programmes for professionals in banking and digital payments.
Structured learning modules targeting both urban and rural financial ecosystems.
Emphasis on fostering a culture of cyber awareness and proactive risk management.
About NPCI
NPCI is the central organization managing retail payments in India, created by the Reserve Bank of India and the Indian Banks’ Association.
It is the driving force behind key digital payment platforms such as UPI, IMPS, RuPay, AePS, NACH, and e-RUPI.
Operates several subsidiaries including NIPL, NBBL, and NBSL, playing a key role in driving financial inclusion and building digital infrastructure.
About IDRBT
Founded by the RBI in 1996, IDRBT is an autonomous research institution focused on banking and financial technology.
Known for developing essential digital infrastructure such as INFINET, SFMS, and the National Financial Switch.
Offers cutting-edge threat intelligence through its updated platform, (IBCART 3.0), and facilitates collaboration via CISO, CIO, and CAO forums.
Conclusion
This partnership represents a significant stride in fortifying India’s digital financial systems against cyber threats. By combining NPCI’s reach and innovation with IDRBT’s research and technological expertise, the initiative aims to create a secure, resilient, and well-trained financial ecosystem ready to meet the challenges of a digitally-driven future.
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