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PM Modi warns of ‘cyber terrorists' in banking

By · Published by Everything Blog

In short

Prime Minister Modi inaugurated the Reserve Bank of India's Rs 169-crore data center and Cybersecurity Training Institute, emphasizing the need for efficient and reliable services in the banking sector.

Key points

  • The PM emphasized the need for efficient and reliable services in the banking sector.: The PM emphasized the need for efficient and reliable services in the banking sector.
  • The event was inaugurated by Prime Minister Modi.: The event was inaugurated by Prime Minister Modi.
  • The initiative aims to make the banking sector more efficient and reliable.: The initiative aims to make the banking sector more efficient and reliable.

Sources checked by our analysis pipeline: 1

Addressing a gathering after inaugurating the Reserve Bank of India's Rs 169-crore data centre and Cybersecurity Training Institute here, he said the facilities would greatly benefit the people of Odisha and the country.

"Development for us means balanced growth of India and opportunities for villages and small towns," Modi said.

He said India's banking sector was now among the most efficient in the world, with people having access to banking services round the clock.

Small entrepreneurs, traditional artisans, street vendors and workers in the unorganised sector have benefited from formal banking services for the first time, he said.

"During the Congress rule, banking facilities were only for a handful of rich and influential persons. They used to get loans easily, while poor, middle-class and women were denied such facilities. However, things changed after 2014 as we adopted a balanced approach. Debit and credit cards were earlier luxury items for the masses, but those are now available for all," he added.

"The past decade was about taking banking to those deprived of it. The coming decade is about making banking more efficient and reliable," he added.

The PM said Odisha will write its future in sectors from mines to microchips and many doors of opportunity will be opened for the youth.

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Original source: economictimes.indiatimes.com

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