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The Institute for Development & Research in Banking Technology (IDRBT) is a unique entity, established and operated purely for the benefit of the banking industry. The organisation focuses exclusively upon the development and introduction of banking technology, having been founded in 1996 by the Reserve Bank of India. Headquartered in Hyderabad, the IDRBT has played a pivotal role in the ongoing development and evolution of banking standards and the provision of new-generation financial services across India. According to the organisation itself, its ongoing mission is "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."