States » EastPosted at: Oct 25 2026 7:08PM


PM Modi calls for stronger cyber defences to protect India’s banking system

Bhubaneswar, Oct 25 (UNI) With cyber threats to financial systems growing increasingly sophisticated, Prime Minister Narendra Modi on Sunday called for stronger digital infrastructure and specialised training to protect India’s banking network.
“Protecting our banking system from cybercriminals and cyberterrorists is as essential as strengthening India’s economic power,” he said inaugurating the RBI’s data centre and cyber security training institute in Bhubaneswar. Modi warned that countries could be weakened by attacks on their economies as much as by military action.
He said emerging cyber threats could not be tackled with outdated infrastructure and training systems, underscoring the need for advanced computing facilities and skilled professionals. The new RBI facilities would help make India’s banking system more secure, efficient and reliable, he added.
Modi said India’s banking sector had undergone a major transformation since 2014, expanding access to financial services for the poor and middle class. Alleging that political influence had earlier enabled select borrowers to secure massive loans through “phone banking”, he said the practice had contributed to the accumulation of non-performing assets (NPAs).
The expansion of digital banking and financial inclusion had changed the landscape, he said, citing nearly 60 crore Jan Dhan accounts that enabled direct transfers of government benefits to beneficiaries.
He said the Pradhan Mantri Mudra Yojana had helped 13 crore people become entrepreneurs for the first time, while PM SVANidhi and PM Vishwakarma had extended formal credit to street vendors and traditional artisans. Banks had also supported self-help groups involving around 10 crore rural women, he added.
Highlighting social security initiatives, Modi said nine crore people were covered under the Atal Pension Yojana, including 38 lakh in Odisha. Claims exceeding Rs 25,000 crore had been paid under the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, he said.
Modi said Odisha was emerging as a growth engine for eastern India, with investments in semiconductors, electronics, data centres and advanced computing creating new opportunities.
Describing the state’s industrial transformation as a journey “from mines to microchips”, he said it would open new avenues for the state’s youth.UNI MK CDS
Tags: #PM Modi calls for stronger cyber defences to protect India’s banking system
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