New facilities to strengthen India’s digital banking infrastructure, financial security and cybersecurity preparedness
Bhubaneswar, October 26: Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s (RBI) newly established Data Centre and Cybersecurity Training Institute in Bhubaneswar, Odisha, underscoring the importance of robust digital infrastructure and enhanced cybersecurity capabilities in India’s rapidly evolving financial sector.
Invoking the blessings of Mahaprabhu Jagannath, the Prime Minister congratulated the RBI and all those involved in establishing the two facilities, describing the inauguration as a significant contribution to Odisha and the country. He said the institutions would support India’s development priorities while strengthening the security and reliability of its financial systems.
Addressing the gathering, Modi said the inauguration reflected a broader transformation in India’s governance approach, with greater emphasis on development, efficient implementation and last-mile delivery of public services.
He highlighted the government’s focus on balanced regional development, improved infrastructure and expanded access to essential services. The Prime Minister cited the expansion of expressways, AIIMS institutions, medical colleges, Ayushman Arogya Mandirs and digital connectivity in rural and remote areas as examples of this approach.
According to him, governance today is increasingly centred on improving citizens’ quality of life and creating opportunities for people across different sections of society.
The Prime Minister highlighted the transformation of India’s banking ecosystem over the past decade, noting that a significant section of the population remained outside formal banking services until 2014.
He said initiatives aimed at expanding financial inclusion had brought millions of households into the formal banking system, enabling access to digital transactions, government benefits and banking services around the clock.
Modi attributed the improved delivery of government assistance to the expansion of the Pradhan Mantri Jan Dhan Yojana, under which nearly 60 crore bank accounts have been opened. He said direct transfers into beneficiaries’ accounts had helped minimise leakages and improve the efficiency of public expenditure.
The Prime Minister also highlighted the role of digital banking in extending financial services to previously underserved communities.
Modi emphasised that access to formal credit was increasingly enabling small entrepreneurs, traditional artisans, street vendors and workers in the unorganised sector to pursue economic opportunities.
He referred to the Pradhan Mantri Mudra Yojana, which supports entrepreneurs through loans, as well as PM SVANidhi and PM Vishwakarma, which aim to improve access to finance for street vendors and traditional artisans.
He also highlighted the contribution of Self-Help Groups representing rural women, noting that bank financing had helped expand their economic participation and livelihood opportunities.
The Prime Minister said the growing availability of RuPay debit and credit cards had also made formal payment systems more accessible, while acknowledging the contribution of the RBI, commercial banks and banking employees to the country’s financial inclusion efforts.
The Prime Minister outlined the expansion of government-backed social security programmes, including pension and insurance schemes designed to make financial protection more affordable for low-income households.
He cited the Atal Pension Yojana, which he said covers around nine crore citizens, including approximately 38 lakh beneficiaries in Odisha.
Modi also referred to the Pradhan Mantri Suraksha Bima Yojana, which offers accident insurance, and the Pradhan Mantri Jeevan Jyoti Bima Yojana, which provides life insurance coverage at affordable annual premiums.
He noted that claims worth more than ₹25,000 crore had been disbursed under these insurance initiatives, providing financial assistance to families during difficult circumstances.
According to the Prime Minister, these schemes demonstrate how financial inclusion can extend beyond banking access to provide social security and economic resilience.
Highlighting the significance of the newly inaugurated RBI facilities, Modi said that while the previous decade focused on bringing the unbanked population into the banking system, the coming decade must prioritise making banking services more efficient, dependable and secure.
He warned that evolving cyber threats could target a country’s financial infrastructure and broader economy. As India expands its digital financial ecosystem, protecting banking networks, financial data and digital transactions has become increasingly important.
The new Data Centre is expected to strengthen the RBI’s technological infrastructure, while the Cybersecurity Training Institute will support the development of specialised skills and capabilities to address emerging cyber risks.
The Prime Minister stressed that modern financial systems require advanced computing infrastructure, updated training facilities and skilled professionals capable of responding to increasingly sophisticated cyber threats.
He said the new institute would play an important role in strengthening preparedness against cybercrime and safeguarding the country’s financial ecosystem.
Modi also highlighted the growing importance of eastern India in achieving the vision of a developed India, or Viksit Bharat. He said Odisha was expanding beyond its traditional mineral-based industrial economy to explore opportunities in semiconductors, electronics, data centres and advanced computing.
The Prime Minister expressed confidence that these emerging sectors would create new investment opportunities, generate employment and open up wider career prospects for the state’s youth.
Describing Odisha’s evolving industrial landscape as a transition “from mines to microchips,” he said the state had the potential to play a greater role in India’s technology-driven economic growth.
The inauguration of the RBI’s Data Centre and Cybersecurity Training Institute marks an important addition to Bhubaneswar’s institutional and technological infrastructure. The facilities are expected to support the RBI’s operational capabilities while reinforcing the importance of secure digital systems as India’s financial sector continues to expand.
The Prime Minister concluded his address by extending festive greetings and invoking the blessings of Mahaprabhu Jagannath.
