Odisha: Modi inaugurates Rs 169-cr RBI data centre, cybersecurity institute in Bhubaneswar

Spread across 18.55 acres, the facility is aimed at strengthening the RBI’s technological infrastructure and cybersecurity preparedness.

Its foundation stone was laid by then RBI Governor Shaktikanta Das on March 22, 2023.

Addressing the gathering, Modi said the next phase of India’s banking reforms would focus on making banking services more efficient, reliable and secure, following a decade of efforts to expand financial inclusion.

He warned that modern warfare increasingly targeted economies through cyberattacks and stressed the need for robust systems, modern infrastructure and skilled personnel to protect the country’s financial system.

The Prime Minister said nearly 60 crore Jan Dhan accounts had helped expand access to formal banking, while digital banking and direct benefit transfers had improved the delivery of government assistance to beneficiaries.

He also highlighted the role of schemes such as the Pradhan Mantri Mudra Yojana, PM SVANidhi and PM Vishwakarma in extending formal credit to small entrepreneurs, street vendors and traditional artisans.

Financial assistance to women’s self-help groups and social security schemes had further widened access to banking, insurance and pension benefits, he said.

Modi said governance in the country was increasingly focused on balanced regional development, improved public services and ensuring that government benefits reached the intended beneficiaries.

Describing eastern India as a key growth engine for a developed India, he said Odisha was diversifying beyond its traditional mineral-based industries into semiconductors, electronics, data centres and advanced computing.

The emerging sectors would create new opportunities for the state’s youth and contribute to its economic development, he added.