Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s (RBI) Data Centre and Cybersecurity Training Institute in Bhubaneswar, Odisha, on Sunday.
He called for development that reaches every section of society, stressing that progress must extend to the most disadvantaged citizens.
Invoking Lord Jagannath, PM Modi described Bhubaneswar’s new facilities as a contribution to India’s progress. He said the institutions would serve Odisha and strengthen the country’s development efforts.
The Prime Minister observed that although India had developed major cities, hospitals, airports and institutions since Independence, several areas continued to face shortages of essential facilities.
He said his government’s people-focused governance model sought to bridge these gaps and ensure that every citizen could participate in the country’s growth.
Referring to financial inclusion, PM Modi noted that a substantial section of the population remained without banking access until 2014, despite the nationalisation of banks in earlier decades.
He said digital banking had since enabled people to access financial services around the clock.
PM Modi Questions Previous Banking Practices
PM Modi accused the Congress-led United Progressive Alliance (UPA) government of favouring influential individuals through its alleged phone banking practices.
He claimed that poor and middle-class families faced difficulties obtaining loans, while wealthy borrowers with political connections could access substantial funds.
He further alleged that such practices contributed to rising non-performing assets (NPAs) and weakened the banking sector.
The Prime Minister said India’s banking priorities were evolving from expanding access to improving service efficiency, reliability and security.
He emphasised the role of advanced data centres, powerful computing systems and secure digital infrastructure in protecting financial transactions.
PM Modi also highlighted the need for updated training programmes, modern technological tools and qualified cybersecurity professionals.
He said the new institute would help strengthen India’s preparedness against emerging cyber threats and protect the country’s financial infrastructure.
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