Long Range Radio (LoRa)

Why in news?

• Institute for Development and Research in Banking Technology (IDRBT), an arm of the Reserve Bank of India (RBI), have created a new dedicated low cost financial network that can be used privately by banks to send encrypted texts to conduct financial transactions.
• IDRBT first in the world to develop this network based on LoRa (Long Range Radio) technology.

About Long Range Radio (LoRa):

• LoRa technology is a wireless modulation technique in the physical layer, allowing long-range communication using a chirp spread spectrum.
• LoRa technology uses dedicated radios, which are not usually present in end-user devices, limiting interferences from other devices.
• Banks can use this as their own dedicated private network instead of using a third-party network which is presently based either on a satellite link or wired (fibre).

Benefits:

• It will make it possible for people in remote hilly and forest areas without satellite signals to access banking services.
• Lower threat of cyber hacking
• Cheaper: The cost of the LoRa financial network is estimated to be 20 per cent cheaper than alternative network technologies with an additional advantage of almost no maintenance and portability of devices.

PRACTICE QUESTION:

Recently, Institute for Development and Research in Banking Technology have created a new dedicated low cost financial network based on LoRa (Long Range Radio) technology. Which of the following are its potential benefits?

1. It will make possible for people in remote hilly and forest areas without satellite signals to access banking services.

2. It will limit the threat of cyber hacking

Select the correct answer using the code given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer