The IFCI Story
IFCI is a Systematically Important Non Deposit Taking Non Banking Finance Company (NBFC-ND-SI) in the public sector. Established in 1948 as a statutory corporation, IFCI is a public limited company listed on BSE and NSE. IFCI has six number of subsidiaries and one associate under its fold.
IFCI is having mandate to provide financial support for the diversified growth of Industries across the spectrum. The financing activities cover various kind of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries. During its 75 years of existence, mega projects like Adani Mundra Ports, GMR Goa International Airport, Salasar Highways, NRSS Transmission, Raichur Power Corporation, to name a few, have been setup with financial assistance of IFCI.
The company has played a pivotal role in setting up various market intermediaries of repute in several niche areas like stock exchanges, entrepreneurship development organizations, consultancy organizations, educational and skill development institutes across the length and breadth of the country.
E-Office Application suite ChallengesÂ
In line with the Digital India initiative, the National Informatics Centre (NIC) has been spearheading various projects to modernize and digitize governmental operations. One such project is the eOffice system, a comprehensive digital solution designed to streamline government workflows. The eOffice system is built on a multi-tier architecture, which includes a presentation Layer, Web Server Layer, Application Layer (Business Logic), Data Layer and Documents Layer.
Developed and maintained by the NIC eOffice Team, the system was initially hosted in NIC’s on-premises data center. The Industrial Finance Corporation of India (IFCI) was using this eOffice application but encountered several critical issues:
Performance Degradation: Slow response times and lagging operations.
Scalability Constraints: Difficulty in scaling the system to accommodate growing user demands.
Operational Challenges: Complicated maintenance procedures affecting operational efficiency.
High Costs: Rising expenses related to infrastructure and management.
Proposed Solution – Migration to OCI
After extensive discussions with the IFCI team, we proposed migrating their eOffice application to the Oracle Cloud. This move was aimed at addressing the existing issues by leveraging Oracle’s advanced cloud infrastructure
Services Implemented
- Virtual Machine (VM)
- Site-to-Site VPN
- Block Volume Storage
- Load Balancer
- Disk Replication
- Identity and Access Management (IAM)
- Object Storage
- Bastion
- Cloud Guard
- Operating System (OS) Management
- Threat Intelligence
- Vulnerability Scanning
Outcome
Migrating to the Oracle Cloud resulted in significant improvements for IFCI:
Enhanced Performance: Faster application response times and improved user experience.
Scalability: Easy scaling to accommodate increasing workloads and user demands.
Operational Excellence: Streamlined maintenance and operational processes.
Cost Efficiency: Reduced infrastructure and management costs, optimizing the overall expenditure.
By leveraging Oracle Cloud’s robust services, IFCI successfully addressed their performance, scalability, operational, and cost-related challenges, aligning with the broader mission of Digital India.
They were able to onboard more subseries to the E-office application.
Published on – 4th March 2024