Educational Qualifications

  • Ph.D. in System Optimization and Fuzzy Control Area from the Indian Institute of Technology, Kharagpur, 1994
  • M.Sc.(Mathematics) with specialization in Operations Research and Computer Science from IIT, Kharagpur, 1987.

Research Interests

  • Operations Research; Multiple Objective Network Optimization; Security Models; Mobile Computing; Mobile Payments; Mobile Governance; Fuzzy Optimization and Fuzzy Control; Financial Engineering; Asset Liability Management; Portfolio Optimization.

Courses Taught

Ph.D. M. Tech. PGDBT
  • Mobile Computing and Mobile Payment Security
  • Software Engineering
  • Soft Computing in Finance
  • Quantitative Techniques in Finance
  • Fuzzy Logic and Fuzzy Programming
  • Optimization Techniques
  • Computer Networks
  • System Modelling and Computer Simulation
  • Numerical Methods
  • Financial Management and Risk Models
  • Mobile Computing and Social Media

Professional Experience

  • Professor at IDRBT, since 2011
  • Associate Professor at IDRBT from 2005-2010
  • Assistant Professor at IDRBT from 1999-2005
  • Senior Lecturer at NIT, Trichy, 1998-99
  • Lecturer at NIT, Trichy, 1993-98
  • Senior Research Fellow (CSIR) at IIT, Kharagpur, 1990-92
  • Junior Research Fellow (CSIR) at IIT, Kharagpur, 1987-90.

Executive Education offered in the areas of:

  • Mobile Banking, Mobile Payments and Mobile Wallets
  • Mobile Cloud Computing and Mobile Governance
  • Mobile Application Development and Security Testing
  • Wireless, NFC and Sensor Technologies
  • Financial Risk Models, ALM and Portfolio Optimization

Grants Received

  • Mobile Governance Standard Development,2014-16, Rs.10 Lakhs from DeitY, Government of India.

Ph.D. Guidance

  • V. Manoj Kumar, Quality of Service and Security Aspects in Mobile Governance, NIT-Trichy, Enrolled in 2016
  • Dorsala Mallikarjun Reddy, Mobile Computing and Security in Mobile Payments, NIT-Warangal, Enrolled in 2015
  • Sriramulu Bojjagani, Formal Methods based Mobile Payments Security and Testing, University of Hyderabad, Enrolled in 2013
  • Anup Kumar Mourya, User Authentication and Key Establishment in Wireless Sensor Networks for Banks, University of Hyderabad, Enrolled in 2013
  • Nenavath Srinivas Naik, Scheduling Approaches to enhance Map-Reduce Performance in Heterogeneous Networks, University of Hyderabad, Submitting Thesis in 2016
  • V. Madhusudan Rao, Feature Selection and Dimensionality Reduction Methods, Osmania University - Hyderabad (CSE), Submitting Thesis in 2016
  • Akther Mohiuddin Rather, Neural Networks and Genetic Algorithms based Approach for Stock Prediction and Portfolio Selection, University of Hyderabad, Awarded in 2016
  • Sheikh Shakeel Ahamad, Design of Protocols for Secure Mobile Payments and their Formal Verification, University of Hyderabad, Awarded in 2014
  • A.Kavitha, Efficient Approaches to Mutual Authentication and Key Agreement Protocols in Wireless Communication Networks, University of Hyderabad, Awarded in 2013
  • G. Geetha Kumari, Grid Computing Security through Access Control Modelling, University of Hyderabad (SCIS), Awarded in 2010
  • Madhubala Kadavayar, Fuzzy and Neuro-Fuzzy Control Techniques for Liquid Level Control in a Conical Tank, Bharathidasan University, Awarded in 2004
  • Ismail Mohiuddin, Some New Algorithms for Multiple Objective Shortest Path Problems, Bharathidasan University, Awarded in 2004.


  • Received CSIR Individual Fellowship Award
  • Best Teacher Award
  • Youngest Researcher Award in Conference
  • Founded the Mobile Payment Forum of India (MPFI)
  • Founded the Mobile Banking Security Lab (MBSL) in IDRBT
  • Chaired the Expert Committee on Mobile Governance Standard, GoI.


  • Standard Bodies
    • IEEE Society
    • ACM Society
    • ORSI
    • ISTE
    • ISMCDM
    • PRIMIA
  • Recent Programme Committees
    • Chaired Sessions in Various Conferences: ICISS, IC-MCDM, INC, ACODS, FANCCO, etc.
  • Others
    • Member of Board of Studies at Central University of Hyderabad, Osmania University, JNTU, Madras University and NIT, Trichy
    • Reviewer of Several International Journals (such as JOTA, EJOR, MR) and International Conferences (such as ICDCIT, ICIT, IICAI)
    • Ph. D. Examiner of Several Universities and Institutions such as IIT-Bombay, IIT-Madras, Jadavpur University, Bharathidasan University, Karaikudi University, etc.
    • PRSG member of several projects of DIT, DeitY, MCIT
    • Chairman, Expert Committee on Mobile Governance Standard, DeitY, GoI
    • Technical Consultant to Banks and Technical Expert in several committees of RBI
    • Delivered over 100 invited lectures in several Institutions in India (including top 5 IITs) and Abroad (USA : University of California - Berkeley, Georgia Institute of Technology-Atlanta, Florida International University-Miami, University of Marietta, University of Albeny, Drexel University, George Mason University, University of Virginia; UK, Canada, Australia, Singapore, South Africa, Brazil, etc.
    • Co-founded Mobile Payment Forum of India (MPFI) and worked as Executive Secretary (2007 onwards)
    • Set up the Centre for Mobile Banking (CMB), IDRBT
    • Guided above 100 Post Graduate and Graduate Projects.

Recent Publications

  • Journals
    • Akhter Mohiuddin Rather, Arun Agarwal and V.N. Sastry, "Recurrent Neural Network and a Hybrid Model for Prediction of Stock Returns", Expert Systems with Applications Journal, Vol. 42, Issue 6, pp. 3234-3241, 2015
    • Shaik Shakeel Ahamad., V. N. Sastry and Siba K. Udgata, "A Secure and Optimized Proximity Mobile Payment Framework with Formal Verification", International Journal of E-Services and Mobile Applications, Vol.6, No.1, pp.66-92, 2014
    • Ahamad, S.S., Sastry, V.N. and Udgata, S.K., "Secure Mobile Payment Framework based on UICC with Formal Verification", International Journal of Computational Science and Engineering, (Special Issue on Future Trends in Security Issues in Internet and Web Applications), Vol. 9, No. 4, pp.355-370, 2014
    • K. Karun Kumar and V. N. Sastry, "A New Algorithm to Compute Pareto-Optimal Paths in a Multi Objective Fuzzy Weighted Network", OPSEARCH (Springer Journal), Vol.50, No.3, pp. 297-318, September 2013
    • Shaik Shakeel Ahamad., Sastry, V.N. and Udgata, S.K., "A Secure Mobile Wallet Framework with Formal Verification", International Journal of Advanced Pervasive and Ubiquitous Computing (IJAPUC), Vol.4, No.2, pp.1-15, 2012
    • Ahamad, S.S., Sastry, V.N. and Udgata, S.K., "Secure and Optimized Mobile based Merchant Payment Protocol using Signcryption", International Journal of Information Security and Privacy, Vol.6, No.2, pp. 64-94, 2012
    • Shakeel Ahmed Shaik, Udgata S.K., Sastry V.N., "A New Mobile Payment System with Formal Verification", International Journal of Internet Technology and Secured Transactions (IJITST), Vol. 4, No. 1, pp.71–103, 2012
    • Kavitha Ammayappan, V.N.Sastry and Atul Negi, "A New Secure Route Discovery Protocol for MANET to Prevent Hidden Channel Attacks", International Journal of Network Security, Vol.14, No.3, pp.121-141, May 2012
    • Kavitha Ammayappan, Atul Negi, V. N. Sastry and Ashok Kumar Das, "A New ECC based Two Party Authenticated Key Agreement Protocol for MANETs", Journal of Computers, Vol. 6, No. 9, pp. 2408-2416, 2011.
  • Conferences
    • N.Srinivas Naik, Atul Negi, and V.N.Sastry, "Performance Improvement of MapReduce Framework in Heterogonous Context using Reinforcement Learning", Procedia Computer Science (International Symposium on Big Data and Cloud Computing), ISBCC, Vol.50, pp.169-175, 2015
    • Sriramulu Bojjagani and V.N.Sastry, "A Secure SMS-based Mobile Banking Protocol (SSMBP) with Formal Verification", Proceedings of the IEEE WIMOB-2015 (11th International Conference on Wireless and Mobile Computing, Networking and Communications, Abu Dhabi, UAE, 19-21 Oct 2015), pp. 252-259, 2015
    • Anup Kumar Maurya, V.N.Sastry and S.K. Udgata, "Cryptanalysis and Improvement of ECC-based Security Enhanced User Authentication Protocol for Wireless Sensor Networks", International Symposium on Security in Computing and Communications (SSCC'15), Springer CCIS 536, pp. 134–145, Kochi, August 10-13, 2015.
  • Book Chapters
    • V. N. Sastry, "Risks in Mobile Banking", Risk Management: The New Accelerator, Editors: Dr. B. Yerram Raju and Narsimharao Venuturapalle, Konark Publishers, pp.155-161, 2013
    • V. N. Sastry, "Basics of Financial Risk Management", Financial Risk Management, Editors: Dr. S. Mallikharjuna Rao, School of Management Studies, Central University of Hyderabad, DBM, No.430, pp.10-25, 2006
    • V. N. Sastry, "Forecasting Techniques", Financial Risk Management, Editors: Dr. S. Mallikharjuna Rao, School of Management Studies, Central University of Hyderabad, DBM, No.430, pp.26-42, 2006.

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