Recognising the quality of research and development work being carried out by the Institute, the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India, had bestowed the status of Scientific and Industrial Research Organisation (SIRO) on IDRBT till March 31, 2020.
Recently, the Institute's performance as a SIRO was reviewed by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India. Based on the performance in the review, the Institute's status as a SIRO has been renewed till March 31, 2023.
This recognition is a result of the research activities being carried out by the Institute in the niche area of Banking Technology as well as the research infrastructure being built for carrying out such research activities. The Institute now has six Research Centres focussed on Analytics, Mobile Banking, Cyber Security, Affordable Technologies, Cloud Computing and Payment Systems. Apart from these research centres, the Institute has also set up a 5G Use Case Lab recently.
The recognition helps the Institute to move ahead with greater focus and speed towards realizing the Institute's vision, "to be the premier and preferred Research and Development Institution on Financial Sector Technology and its Management, working at the intersection of Banking and Technology for the Indian Banking."