State Bank of India (SBI) uses TCS BaNCS as its core banking software, implemented by Tata Consultancy Services to support its centralized IT operations.
Which software is used in banks?
Large banks typically rely on core banking systems like Oracle FLEXCUBE, Temenos T24, and Finastra Fusion, built using Java, .NET, and Python frameworks.
These platforms handle deposits, loans, and customer accounts. Meanwhile, ancillary tools for risk management use specialized SQL-based databases. Integration across channels—online, mobile, and branches—relies on APIs and middleware. Banks also deploy fraud detection and analytics engines such as SAS or FICO. Honestly, this is the best approach for modern banking infrastructure.
Which software is used in banks in India?
Finacle, developed by Infosys, is the most widely used core banking software in Indian banks, including State Bank of India (SBI), ICICI Bank, and Axis Bank.
Finacle supports multi-currency transactions, mobile banking, and regulatory compliance. Another key player is TCS BaNCS, used by SBI and several cooperative banks. These systems run on Linux servers and Oracle databases. According to the NASSCOM industry report as of 2024, over 70% of Indian banks use one of these two platforms.
Which software is used in HDFC Bank?
HDFC Bank transitioned from Finware to Oracle FLEXCUBE as its core banking system, completing the rollout in an 18-month phased migration.
Oracle FLEXCUBE handles retail, corporate, and investment banking workflows. The bank also uses Oracle Financial Services Analytical Applications for risk and compliance. As of 2026, the system processes over 100 million transactions daily across India.
Which software does RBI use?
The Reserve Bank of India uses the Intellect Core Banking System (CBS) from Polaris, implemented by Intellect Design Arena, for its internal ledger and monetary operations.
Hosted on secure IBM mainframes, the system integrates with e-Kuber for payment settlements. The RBI’s IT infrastructure also includes Oracle databases for regulatory reporting. This setup supports the RTGS and NEFT payment systems, handling over ₹120 trillion in daily settlements.
Which type of database is used in banks?
Banks primarily use relational databases like Oracle Database, IBM Db2, and Microsoft SQL Server for core transactional systems.
These databases ensure ACID compliance for financial accuracy and scalability. For analytics and reporting, banks deploy data warehouses such as Teradata or Snowflake. Security is enforced through encryption, role-based access, and regular audits per RBI guidelines.
Is finacle a software?
Yes, Finacle is a Core Banking Solution (CBS) developed by Infosys that supports digital banking, payments, and customer service.
Written in Java, C++, and Python, Finacle runs on Linux and Oracle databases. Over 800 financial institutions in 100+ countries use it. The latest version, Finacle 11.x, includes AI-based fraud detection and open banking APIs.
What software is used in finance?
Finance institutions commonly use accounting software such as Oracle Financials Cloud, SAP S/4HANA, and QuickBooks for general ledger, payables, and receivables.
- QuickBooks: Used by small firms and CFOs for bookkeeping and tax preparation.
- Oracle Financials Cloud: Handles global compliance and multi-entity consolidation.
- SAP S/4HANA: Powers enterprise resource planning in large banks and corporates.
- Workiva: Used for SEC reporting and ESG disclosures.
Which software is used in CBS?
Core Banking Systems (CBS) in India are dominated by Finacle (Infosys), TCS BaNCS, and Flexcube (Oracle) across public and private banks.
| Vendor | Product | Key Users |
|---|
| Infosys | Finacle | SBI, ICICI, Axis Bank |
| TCS | BaNCS | SBI, Canara Bank, Dena Bank |
| Oracle | Flexcube | HDFC Bank, Kotak Mahindra |
Some smaller banks develop in-house CBS, but these three systems cover over 90% of the market.
Which software is used by Yes Bank?
Yes Bank uses SunTec’s Xelerate platform for revenue management and business assurance, particularly in retail banking.
The platform enables real-time pricing, billing, and revenue assurance across digital channels. It integrates with Yes Bank’s core banking system (FLEXCUBE) and supports API-based product launches. This setup helps Yes Bank manage over 50 million customer accounts as of 2026.
Is HDFC a bank?
Yes, HDFC Bank is a leading private-sector commercial bank in India, regulated by the Reserve Bank of India since 1994.
It operates 5,653 branches and 16,291 ATMs across 2,917 cities as of fiscal year 2025-26. HDFC Bank offers retail, corporate, and treasury services. It is listed on the NSE and BSE and part of the Nifty 50 index.
What is HDFC Bank full form?
HDFC Bank stands for Housing Development Finance Corporation Bank, reflecting its origins as a housing finance company.
Incorporated on August 30, 1994, it began operations in January 1995. Today, it is one of India’s largest private banks by market capitalization. The name reflects its initial focus on housing finance before expanding into full banking services.
How does RBI collect data?
The RBI collects data via its internal systems, including e-Kuber, RTGS, and direct interface with regulated entities through structured reporting portals.
Banks submit returns like XBRL-based financial statements and credit data via the RBI’s Data Warehouse (DW). Surveys on inflation, household finance, and monetary policy feed into policy modeling. Public data is published quarterly in the Handbook of Statistics on Indian Economy.
What is E-Kuber of RBI?
e-Kuber is the RBI’s Core Banking Solution (CBS) used for managing accounts, payments, and government disbursements, including MGNREGA and welfare schemes.
It enables Direct Benefit Transfer (DBT) to beneficiary accounts without intermediaries. All government payments—pensions, subsidies, and tax refunds—are routed through e-Kuber. The system processes over 2 million transactions daily with 99.99% uptime.
Who introduced RBI?
The Reserve Bank of India was established in 1935 based on the recommendations of the Hilton Young Commission, led by British economist Lord Hilton Young.
The RBI commenced operations on April 1, 1935, with an initial capital of ₹5 crore. It was nationalized in 1949 and became the central monetary authority of independent India. The RBI Act, 1934, forms its legal foundation.
