Bhubaneswar: Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s (RBI) new Data Centre and Cyber Security Training Institute in Bhubaneswar on Sunday. The facility, developed at a cost of ₹169 crore, aims to bolster India’s digital financial infrastructure. During his address at the inauguration, the Prime Minister launched a sharp political attack on the Congress party, criticizing its past governance of the banking sector.
Reflecting on the state of the economy prior to his government’s formation, PM Modi stated, “Before 2014, bank loans worth thousands of crores of rupees were given to a few favorites of the Congress in Delhi merely through ‘phone banking’.” He claimed that this systemic failure burdened the Indian banking sector under the massive weight of Non-Performing Assets (NPAs).
“Any major transformation requires bold thinking,” the Prime Minister remarked, contrasting the previous era with current technological advancements. He emphasized that the ‘Digital India’ ecosystem has successfully brought banking services to the doorstep of every citizen. “Today, India’s banking sector is among the strongest in the world. Through digital banking, every citizen of the country has become a beneficiary,” he added.
Focusing on the significance of the newly inaugurated facility, PM Modi highlighted that the Data Centre and Cyber Security Training Institute will be highly beneficial for the people of Odisha and the nation at large. Reaffirming his government’s commitment, he said, “For us, development means balanced progress across India and opportunities for villages. Our goal is to provide poor families with the facilities to live a life of dignity.” He pointed out that modern expressways are now connecting smaller towns and nearly 1.75 lakh ‘Ayushman Arogya Mandirs’ have been established in rural areas.
The new RBI facility, situated in Jatni’s ‘Info Valley-II,‘ spans across 18.55 acres. Its foundation stone was laid by current RBI Governor Shaktikanta Das on March 22, 2023. The center is expected to house critical payment and settlement systems alongside other key initiatives. Authorities expect the hub to enhance the accessibility, functionality, and reliability of digital financial services, laying a secure foundation for India’s rapidly growing tech-driven financial economy.