IFS Cloud: RBI’s Sovereign Community Cloud for Finance
Why in the news
RBI announced a home-grown cloud and other steps to make finance digitally resilient and less reliant on foreign tech.
Key facts
- IFS Cloud due in FY 2025-26, built by IFTAS, an RBI subsidiary.
- A community cloud for RBI and regulated entities; RBI-owned at first, later a financial sector consortium.
- Aims: data localisation, less dependence on foreign cloud providers, cheap cloud for small banks and NBFCs.
Other measures
| Measure | Details |
|---|---|
| e-Kuber (RBI’s core banking system) | Cloud-native, API-first redesign; modules for government auctions, public debt and financial literacy; serves 250+ commercial banks and state governments |
| Domains | ‘.bank.in’ and ‘.fin.in’ under IDRBT to curb phishing |
| AI governance | Rules on AI/ML use by RBI staff and partners: data protection, transparency, integrity |
Significance
- Backs sovereign digital infrastructure, small-institution inclusion and cyber resilience.
Exam angle
- Developer: IFTAS.
- Domain manager: IDRBT.