Bhubaneswar, October 25: Prime Minister Narendra Modi on Sunday said that the Reserve Bank of India’s (RBI) Data Centre and Cybersecurity Training Institute at Jatani, near Bhubaneswar, would significantly benefit the people of Odisha and the country by strengthening India’s financial infrastructure and cybersecurity capabilities.

Inaugurating the two facilities this evening, the Prime Minister said that, with the blessings of Mahaprabhu Jagannath, Bhubaneswar was presenting a vital new institution to New India. He congratulated the RBI and all those involved in establishing the facilities, describing the initiative as an important step towards strengthening the country’s financial security and technological preparedness.

“This will be very beneficial for the people of Odisha and the country,” Modi said.

Highlighting the significance of the occasion, the Prime Minister said the inauguration reflected a fundamental transformation in India’s governance approach, which now prioritises development, expands its reach and ensures the delivery of benefits to the last mile.

“Today’s programme is proof of how the approach to governance has changed in India,” he said.

Modi outlined the government’s commitment to people-centric and proactive good governance, with a focus on balanced regional development, dignity for the poor and ensuring that no citizen is left behind. He cited the expansion of expressways connecting smaller towns, the establishment of AIIMS and medical colleges across states, the development of nearly 1.75 lakh Ayushman Arogya Mandirs in villages and the expansion of digital connectivity in remote areas.

“Making the life of the citizen easier and giving new opportunities to their dreams is now the real purpose of governance,” the Prime Minister said.

Digital banking transforms financial inclusion

Reflecting on India’s financial inclusion journey, Modi observed that despite the nationalisation of banks in the 1960s and 1970s, a large section of the population remained outside the formal banking system until 2014. For many middle-class families, small farmers, landless people and women, access to bank credit had long remained difficult.

He said the expansion of digital banking had transformed the financial landscape, connecting citizens to banking services around the clock.

“Today in India, digital banking has connected everyone to 24-hour banking services,” he said.

The Prime Minister highlighted the role of nearly 60 crore Jan Dhan accounts in expanding financial inclusion and ensuring the direct transfer of government benefits to beneficiaries. He said the Direct Benefit Transfer system had helped eliminate leakages, enabling every rupee disbursed by the Central Government to reach the intended beneficiary’s account.

“Today, through digital banking, every family in the country has become a beneficiary,” Modi said.

He also emphasised the growing accessibility of formal credit for people without collateral, including small entrepreneurs, traditional artisans, street vendors and workers in the unorganised sector.

According to the Prime Minister, 13 crore people had become first-time entrepreneurs through the Pradhan Mantri Mudra Yojana, while street vendors and traditional artisans had gained access to formal credit through PM SVANidhi and PM Vishwakarma. He also highlighted the financial assistance extended to Self-Help Groups representing 10 crore rural women.

“For the first time, they have received the benefit of formal banking,” he said.

Modi credited the banking sector for making financial services more accessible, noting that RuPay cards had helped extend the benefits of digital payments beyond the affluent sections of society. He acknowledged the contribution of the RBI, commercial banks and banking employees across the country.

“All of you are partners in this glory,” he said.

Social security coverage expands

The Prime Minister also highlighted the expansion of social security schemes under the government’s guiding principle ofNagrik Devo Bhava, which places citizens at the centre of governance.

He said the Atal Pension Yojana covered nine crore citizens, including 38 lakh beneficiaries in Odisha. He also referred to the Pradhan Mantri Suraksha Bima Yojana, which provides accident insurance at an annual premium of ₹20 for coverage of ₹2 lakh, and the Pradhan Mantri Jeevan Jyoti Bima Yojana, which offers life insurance at an annual premium of less than ₹450.

Modi said these schemes had made insurance protection accessible to poor and middle-class families who had previously found such coverage difficult to afford.

He further noted that insurance claims worth more than ₹25,000 crore had been paid to families during difficult times, describing the delivery of such benefits as an example of effective governance.

“This is what good governance is,” he said.

Cybersecurity crucial to financial stability

Turning to the significance of the newly inaugurated facilities, Modi said that while the past decade had focused on bringing the unbanked into the formal financial system, the coming decade would concentrate on making banking more efficient, secure and reliable.

He said the RBI’s new Data Centre, supported by robust computing infrastructure, would contribute to this objective. As India’s economy expands and digital financial transactions become increasingly widespread, protecting the financial system from cyberattacks has become a national priority.

The Prime Minister cautioned that modern warfare increasingly targets economies through evolving cyber threats. He stressed that an emerging economic power must safeguard its financial infrastructure against cybercriminals and cyberterrorists.

He also underlined the importance of modern technological infrastructure and skilled human resources in responding to emerging cybersecurity challenges.

“Right here, the role of this new cybersecurity institute becomes crucial,” Modi said.

The two facilities are expected to strengthen the technological capabilities supporting India’s financial system and contribute to developing expertise in cybersecurity, an increasingly important area for the banking and financial sectors.

Odisha poised for a technology-driven future

Emphasising the strategic importance of eastern India in the vision ofViksit Bharat, Modi said Odisha was emerging as an important engine of national growth. He noted that the state was building on its traditional strengths in minerals and mineral-based industries while expanding into new sectors such as semiconductors, electronics, data centres and advanced computing.

The Prime Minister expressed confidence that this combination of established industries and emerging technologies would create new economic opportunities, generate employment and help fulfil the aspirations of Odisha’s youth.

He said the state was poised to play a significant role in India’s technological and industrial transformation.

“You will see, Odisha, from mines to microchips, is going to write a new future,” Modi said.

Concluding his address, the Prime Minister extended his festive greetings to the people and invoked the blessings of Mahaprabhu Jagannath, expressing optimism about Odisha’s development journey and its growing contribution to the nation’s progress.

The inauguration of the RBI’s Data Centre and Cybersecurity Training Institute marks a significant addition to Odisha’s institutional and technological infrastructure, reinforcing Bhubaneswar and its surrounding region’s potential as a centre for advanced technology, financial services and cybersecurity expertise.