Prime Minister Narendra Modi on Sunday inaugurated the Reserve Bank of India’s newly established Data Centre and Cybersecurity Training Institute in Bhubaneswar, Odisha, highlighting the growing importance of secure financial infrastructure as India’s economy becomes increasingly digital.
Invoking the blessings of Mahaprabhu Jagannath, Modi congratulated the RBI and all those involved in setting up the two facilities, saying they would benefit Odisha and the country.
“Today’s programme is proof of how the approach to governance has changed in India,” the Prime Minister said, emphasising development, balanced regional growth and last mile delivery of public services.
Modi highlighted the expansion of digital banking and financial inclusion over the past decade. He said nearly 60 crore Jan Dhan accounts had helped bring millions of people into the formal banking system, enabling government benefits to reach beneficiaries directly.
He also pointed to the role of schemes such as the Pradhan Mantri Mudra Yojana, PM SVANidhi and PM Vishwakarma in expanding access to formal credit for small entrepreneurs, street vendors and traditional artisans. According to the Prime Minister, around 13 crore people had become first time entrepreneurs under the Mudra Yojana.
The Prime Minister also highlighted the expansion of social security coverage through schemes such as Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana. He said insurance payouts exceeding Rs 25,000 crore had provided financial assistance to families during difficult times.
Cybersecurity crucial for India’s financial system
Emphasising the strategic importance of the new facilities, Modi said the focus over the coming decade would be on making banking more efficient and reliable, building on the progress made in extending banking access.
He cautioned that modern warfare increasingly targets economies through cyber threats, making the protection of financial infrastructure a critical priority for a growing economic power such as India.
The new Data Centre and Cybersecurity Training Institute are expected to support the RBI’s computing infrastructure and strengthen cybersecurity capabilities through modern facilities and specialised training.
“Right here, the role of this new cybersecurity institute becomes crucial,” Modi said, underlining the need to equip banking professionals with the skills and infrastructure required to address evolving cyber risks.
Odisha’s technology ambitions
The Prime Minister also highlighted Odisha’s potential to emerge as a major growth centre, with investments in emerging sectors complementing its traditional mineral-based industries.
He pointed to opportunities in semiconductors, electronics, data centres and advanced computing, describing the transition as a shift from mines to microchips.
“You will see, Odisha, from mines to microchips, is going to write a new future,” Modi said, expressing confidence that these sectors would create fresh opportunities for the state’s youth.
The inauguration marks a step in strengthening the infrastructure supporting India’s increasingly digital financial system, at a time when cybersecurity and the resilience of critical financial services are becoming more important.
