In News
- Recently, the Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI) has developed a new low cost financial network to take banking to remote areas.
About Long Range Radio (LoRa)
- LoRa technology is a wireless modulation technique in the physical layer, allowing long-range communication using chirp spread spectrum.
- LoRa technology uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.
- LoRa is ideal for applications that transmit small chunks of data with low bit rates.
- It is a new dedicated low cost financial network that can be used privately by banks to send encrypted texts to conduct financial transactions.
Source: BL
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