Finance Minister Nirmala Sitharaman Highlights Data Centers as Key to Digital Era at RBI Launch
Nirmala Sitharaman emphasizes the importance of data centers for Indias digital future during the RBIs new facility inauguration in Bhubaneswar.
Bhubaneswar, October 25 (Daily Kiran) : Finance Minister Nirmala Sitharaman inaugurated the Reserve Bank of India’s new greenfield data center in Khurda, Odisha, on October 25, 2026. She described data centers as a vital force in today’s digital age and outlined the government’s initiatives to support this sector.
During her address, Sitharaman noted that the government recognized data centers as critical infrastructure in 2022. In the 2026-27 budget, tax incentives were announced for foreign companies providing global cloud services from data centers in India.
The new facility aims to enhance the domestic capabilities of India’s payment infrastructure, housing essential systems like RTGS and NEFT. Additionally, it will serve as a training institute focused on cybersecurity, artificial intelligence, and data center expertise.
Sitharaman highlighted that the RBI center’s location in Eastern India reflects the central government’s commitment to balanced development across the country.
She also reiterated the Modi government’s 2014 pledge to ensure that no Indian is excluded from the banking system. The Pradhan Mantri Jan Dhan Yojana has successfully opened 590 million accounts to date.
The Finance Minister also referenced other government initiatives, such as the Pradhan Mantri Mudra Yojana, which has facilitated access to credit for small and micro enterprises through loans totaling ₹43 lakh crore. Notably, 65% of the beneficiaries are women.
Furthermore, the PM Street Vendor Scheme has disbursed loans to 1.2 million street vendors, with many successfully repaying their loans.
Sitharaman pointed out that programs like PM Jeevan Jyoti, PM Suraksha Bima Yojana, and Atal Pension Yojana have provided security to citizens.
She concluded by praising Prime Minister Modi’s emphasis on technology and Digital India over his 25-year tenure as both Prime Minister and Chief Minister. The Unified Payments Interface (UPI) has become the world’s largest real-time payment system, with transaction volumes increasing 30,000 times since 2016-17, resulting in 2.4 billion transactions monthly.
