Modi inaugurates RBI data centre and cyber institute

Prime Minister Narendra Modi inaugurated the Reserve Bank of India’s new data centre and Cybersecurity Training Institute in Bhubaneswar on October 25, establishing facilities intended to support critical financial systems and strengthen cybersecurity training. The RBI site covers 18.55 acres at Info Valley-II in Jatni, Odisha. The foundation stone was laid on March 22, 2023. Reports put the project cost at Rs 169 crore. The government said the data centre will host mission-critical payment and settlement systems, along with other flagship initiatives. Finance Minister Nirmala Sitharaman said the centre would house RBI systems including the Real Time Gross Settlement and National Electronic Funds Transfer infrastructure. The government said the facility is intended to support the reach, efficiency and reliability of digital financial services. The Cybersecurity Training Institute is designed to provide training, research and capability development for the financial sector. RBI Governor Sanjay Malhotra said the central bank should train its own staff as well as employees of banks and other financial institutions in artificial intelligence, big data analytics, quantum...