Protect banking system from cyber looters, cyber terrorists: PM Modi
Inaugurating the RBI’s new data centre and cybersecurity training institute in Bhubaneswar, PM Modi said the next decade will focus on making Indian banking more efficient and reliable after expanding access to millions over the past 10 years.
Prime Minister Narendra Modi emphasized the need to safeguard India's banking system from cyber threats as the country grows economically stronger. Speaking after inaugurating the Reserve Bank of India's new data center and cybersecurity training institute in Bhubaneswar, Odisha, Modi stressed the importance of protecting the banking system from "cyber looters and cyber terrorists" amidst modern warfare strategies.
The prime minister noted that while the previous decade focused on expanding banking access to the unbanked, the coming decade would prioritize making banking more efficient and reliable. Modi highlighted the expansion of digital banking services, noting that nearly 600 million Jan Dhan accounts had been opened and government payments now reach beneficiaries' accounts without leakages.
He also praised the Pradhan Mantri MUDRA Yojana, PM SVANidhi, and PM Vishwakarma initiatives for extending formal credit to small entrepreneurs and workers in the unorganized sector. Additionally, Modi discussed government-backed schemes for pension and insurance coverage, disbursing over ₹25,000 crore in claims to families during difficult times.
Highlighting Odisha's potential, he stated that eastern India could become a powerful growth engine for a developed India, with opportunities in industries such as semiconductors, electronics, data centers, and advanced computing. RBI Governor Sanjay Malhotra expressed gratitude for Modi's participation and emphasized the central bank's commitment to embracing emerging technologies and bolstering cybersecurity.
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