Prime Minister Narendra Modi has warned that modern conflicts are no longer fought with weapons alone, highlighting the growing threat of cyberattacks against national economies and financial institutions while inaugurating the Reserve Bank of India’s new data centre and cybersecurity training institute in Bhubaneswar, Odisha.
Prime Minister Narendra Modi on Sunday, October 25, stressed the importance of protecting India’s banking system from cybercriminals and cyberterrorists as the country becomes increasingly dependent on digital financial services. He said economic systems could become targets in modern conflicts and called for stronger infrastructure, advanced technology and skilled cybersecurity professionals.
The remarks came during the inauguration of two new facilities established by the Reserve Bank of India (RBI) in Bhubaneswar. The facilities are intended to strengthen the country’s financial infrastructure and improve its ability to respond to emerging digital threats.
PM Modi Highlights the Changing Nature of Modern Warfare
Addressing the gathering, Modi said that contemporary conflicts increasingly extend beyond conventional military operations.
He warned that a country could be weakened by attacks on its economy and financial infrastructure, making cybersecurity an important part of national security.
The Prime Minister emphasised that as India’s economy grows, protecting its banking systems becomes increasingly important. He also noted that outdated systems and conventional training methods may not be sufficient to address increasingly sophisticated cyber threats.
His remarks underline the growing importance of securing digital payment networks, banking platforms and other financial systems that support economic activity across the country.
Cyberattacks can potentially disrupt financial services, compromise sensitive information and undermine confidence in digital transactions. Strengthening cybersecurity capabilities is therefore essential to maintaining the reliability of banking operations.
RBI Opens New Data Centre and Cybersecurity Training Institute
The Prime Minister inaugurated the RBI’s newly established data centre and cybersecurity training institute in Bhubaneswar on October 25.
The project, reported to involve an investment of approximately ₹169 crore, is designed to strengthen the central bank’s computing infrastructure and cybersecurity capabilities.
The data centre will support critical RBI operations, including payment and settlement systems. It is also intended to improve operational resilience and provide additional capacity for the central bank’s digital infrastructure.
The cybersecurity training institute will focus on developing specialised skills, providing training and supporting research in cybersecurity and enterprise computing.
As financial services increasingly rely on interconnected digital systems, institutions need professionals who can identify vulnerabilities, respond to security incidents and protect critical infrastructure against evolving threats.
The new facilities are expected to contribute to these efforts by combining stronger technological infrastructure with specialised training.
Digital Banking Expansion Brings New Security Responsibilities
During his address, Modi highlighted the expansion of digital banking and financial inclusion in India.
He said digital banking had enabled people across the country to access financial services around the clock, reducing the need to visit physical bank branches for routine transactions.
The Prime Minister also referred to the expansion of the Pradhan Mantri Jan Dhan Yojana, under which nearly 60 crore bank accounts have been opened. These accounts have helped bring more people into the formal banking system and supported the transfer of government benefits directly to beneficiaries.
Digital payments and online banking have made financial services more accessible to households, small businesses and individuals in remote areas.
However, the growth of digital services also increases the importance of protecting customers against fraud, unauthorised access, identity theft and other cyber-related risks.
Financial institutions must therefore continue investing in secure systems, monitoring capabilities and public awareness to ensure that wider access to banking is accompanied by stronger protection for users.
Government Emphasises More Reliable Financial Services
Modi described the coming decade as a period in which India should focus not only on expanding access to banking but also on making financial services more efficient and reliable.
He credited the banking sector with helping extend formal financial services to small entrepreneurs, street vendors, traditional artisans and people working in the informal economy.
The Prime Minister also highlighted government-backed programmes such as the Pradhan Mantri MUDRA Yojana, PM SVANidhi and PM Vishwakarma, which aim to improve access to institutional credit for different groups.
He said the expansion of banking services had created new opportunities for people who previously faced difficulties accessing formal financial support.
As these services expand, maintaining public confidence will depend partly on how effectively banks protect customers’ money and personal information.
Cybersecurity measures, reliable digital infrastructure and trained personnel will play an important role in supporting that objective.
Odisha’s Technology Sector Receives a Boost
The inauguration also formed part of a broader discussion about Odisha’s economic development and its growing technology ambitions.
Modi described eastern India as an important contributor to the country’s development and highlighted Odisha’s efforts to expand beyond traditional mineral-based industries.
He pointed to emerging opportunities in semiconductors, electronics, data centres and advanced computing, suggesting that these sectors could create new employment and business opportunities for young people.
The RBI facilities add to the state’s developing technology infrastructure and reflect the increasing role of digital systems in India’s financial and economic landscape.
Conclusion
Prime Minister Narendra Modi’s warning that modern wars can target economies as well as military forces highlights the growing significance of cybersecurity in India’s national security strategy.
The inauguration of the RBI’s new data centre and cybersecurity training institute represents an investment in the infrastructure and expertise needed to protect the country’s financial system.
As digital banking continues to expand, the challenge will be to ensure that financial services remain secure, reliable and accessible. Stronger technological capabilities and a skilled cybersecurity workforce will be important to protecting India’s banking infrastructure against emerging threats.