IDBI Bank introduces 'digital' authentication

Last Updated: Fri, Mar 15, 2013 10:47 hrs

IDBI Bank, a new generation PSU Bank, has partnered with eMudhra Consumer Services Ltd. (eMudhra), a licensed Certifying Authority (CA), to implement Digital Signature based authentication solution to strengthen and further secure its Corporate Inet Banking channel.

"The solution builds trust and enhances security in the electronic banking system thereby enhancing comfort and confidence of both, the customer and the Bank while undertaking Third Party Funds Transfers and Bulk Transaction uploads," said an official spokesperson on Friday.

Digital Signature Certificate (DSC) is a PKI based asymmetric cryptography technology using 2048 bit advanced encryption standards.

The information, which is digitally signed using a DSC, ensures authenticity, non-repudiation, confidentiality and integrity of the data transmitted.

IDBI Bank Corporate Inet Banking users now have the option to use a DSC, procured from a Certifying Authority, to authenticate and digitally sign online transactions.

IDBI Bank has taken the lead to expeditiously implement the solution following recent directives from Reserve Bank of India (RBI) to banks emphasizing upon digital signature enabled electronic banking transactions.

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