Convert IAS Prelims

Structured Financial Messaging System: indian version of SWIFT

SFMS is a SWIFT like messaging standard for messages. SFMS is an EDI (Electronic Data Intervention) for banks and it uses INFINET as the communication medium.

Various intrabank applications can make use of SFMS to improve efficiency and speed in fund transfer, MIS reports, information reports, etc.

The basic architecture of SFMS is a 4-tier architecture with HUB connected to Bank Gateways, which are connected to Bank Servers. The Bank Servers in turn are connected to Offline branches. The SFMS messages from a bank branch to another bank branch will be delivered via Bank Gateways and the Hub. The Hub will be located at IDRBT, Hyderabad. Intrabank messages can be switched at the Bank Gateway level and need not come to Hub.

The HUB and the Bank Gateway sites can be connected via VSAT communication links / leased lines. The Bank Gateways and the Branch Severs can be connected via shared / dedicated leased lines or Dial Up lines depending on proximity and the volume of traffic.

INFINET is all set to become the communication backbone for National Payments System, catering to inter bank applications like RTGS, Delivery Vs Payment (DVP), Government Transactions, and Automatic Clearing House (ACH) etc. INFINET architecture primarily consists of the HUB, the Bank Gateway sites and the Branch sites connected to one another in a well-defined hierarchy.

The security aspect of SFMS will be taken care of using PKI based security environment. Authentication, Confidentiality, Non-Repudiation and Integrity will be taken care of by PKI based security features. Under Public Key Infrastructure each entity will have a public key and a private key. Digital Signature will be a part of every message sent on SFMS. Digital Certificate to reside in smart card issued to authorized personnel. Smart card based access at the point of message generation will provide additional security and audit trail.

International atomic energy agency initiatives:

>Programme of Action for Cancer Therapy (PACT)
> Human Health Programme
> IAEA Water Availability Enhancement Project (IWAVE)
> International Project on Innovative Nuclear Reactors and Fuel Cycles (INPRO)
> NUTEC Plastics
> Peaceful Uses Initiative (PUI)
> Rays of Hope
> Zoonotic Disease Integrated Action (ZODIAC)

With reference to International science projects, consider the following:

1. Large Hadron Collider (LHC)- The God Particle

2. Thirty Metre Telescope (TMT) - The World's Most Advanced Telescope

3.International-Thermonuclear-Experimental-Reactor (ITER) - Fusion Energy

4. Facility for Antiproton and Ion Research (FAIR) - Antiproton and Ion Research