Bhubaneswar: Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s (RBI) newly established Data Centre and Cybersecurity Training Institute in Bhubaneswar, Odisha, on Sunday, marking a significant step towards strengthening the country’s digital banking infrastructure and cybersecurity capabilities.

Highlighting the importance of secure financial systems, Modi said that as India grows economically stronger, protecting its banking network from cybercriminals and cyber threats becomes increasingly important. He noted that modern conflicts can also target a nation’s economy, making cybersecurity a critical component of financial security.

The new Data Centre will strengthen the RBI’s computing infrastructure, while the Cybersecurity Training Institute will support the development of specialised skills to address emerging threats to the financial system.

Modi said India’s banking priorities were entering a new phase. While the past decade focused on bringing banking services to people previously excluded from the formal system, the coming decade would focus on making banking more efficient and reliable.
He highlighted the role of digital banking, Jan Dhan accounts and government-backed financial inclusion schemes in expanding access to banking, formal credit and social security benefits for households, small entrepreneurs, street vendors and traditional artisans.

The Prime Minister also underscored Odisha’s growing potential in emerging technology sectors, including semiconductors, electronics, data centres and advanced computing, describing the state’s transition from mineral-based industries towards new technology-driven opportunities as an important part of its growth.

The inauguration reinforces the importance of secure digital infrastructure as India’s banking system expands, with cybersecurity and reliable computing systems becoming increasingly important to protecting financial services and public trust.

BI Bureau