PM Modi Launches RBI's ₹169 Crore Cybersecurity Institute in Odisha
The new data center and training institute aim to enhance India's digital financial security.
PM Modi inaugurated a ₹169 crore data center and cybersecurity institute in Odisha.
The facility will enhance digital financial services and cybersecurity training.
Strategically located to minimize risks from natural disasters and geopolitical tensions.
On Sunday, Prime Minister Narendra Modi officially opened the Reserve Bank of India's (RBI) new data center and Cybersecurity Training Institute in Jatni, Odisha. This facility, which represents an investment of ₹169 crore, spans 18.55 acres and is designed to support critical payment and settlement systems vital to India's financial infrastructure.
The foundation for this center was laid by former RBI governor Shaktikanta Das on March 22, 2023. The establishment of this data center is expected to significantly enhance the efficiency, reach, and reliability of digital financial services across the country. Additionally, the Cybersecurity Training Institute will focus on building skills and conducting research in cybersecurity, thereby strengthening the capabilities of the financial sector in India.
Officials noted that the site was selected for its geographical stability, being situated away from areas prone to seismic activity and international border risks. This strategic choice aims to reduce the facility's vulnerability to natural disasters and geopolitical issues, ensuring a secure environment for operations.
The inauguration event was attended by several dignitaries, including Union Finance Minister Nirmala Sitharaman, RBI Governor Sanjay Malhotra, and Odisha's Governor Brajmohan Ram, along with Chief Minister Mohan Charan Majhi. Their presence underscores the importance of this initiative in bolstering India’s financial security framework.
Looking ahead, the RBI's new facility is set to play a crucial role in the ongoing digital transformation of the financial sector. As India continues to embrace technology in finance, the data center and training institute are expected to provide a robust foundation for future developments in cybersecurity and digital finance.
