Institute for Development and Research in Banking Technology Institute for Development and Research in Banking Technology The Institute for Development & Research in Banking Technology (IDRBT) is an institution exclusively focused on Banking Technology. Established by the Reserve Bank of India (RBI) in 1996, the Institution works at the intersection of Banking and Technology. It is located in Hyderabad, India. R The main focus of the Institute is on conducting Applied Research and Experimental Development in the area of Banking Technology. The Research at the Institute is directed primarily towards a specific practical objective that will serve the Banking and Financial Sector. Accordingly, the Research and Development activities
Reserve Bank of India Act, 1934 manage public debt. The Section 22 says that only RBI has the exclusive rights to issue currency notes in India. The Section 24 states that the maximum denomination a note can be . The section 26 of Act, describes the legal tender character of Indian bank notes. The Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect notes. The Section 31 says that in India only the RBI or the central government can issue and accept promissory notes that are payable on demand. However, cheque, that are payable on demand, can be issued by