Prime Minister Narendra Modi on Sunday warned that wars were no longer fought only through conventional means but also by targeting economies, stressing
the need to protect India's banking system from "cyber terrorists" while inaugurating the Reserve Bank of India's Rs 169-crore data centre and Cybersecurity Training Institute in Bhubaneswar, Odisha. "We all know that wars today are not fought with weapons alone. A country can also be weakened by attacks on its economy. As India grows economically stronger, it becomes equally important to protect our banking system from cybercriminals and cyberterrorists. Today, cyber threats are constantly evolving. We cannot tackle these new challenges with outdated systems, old training methods or obsolete tools. We need modern infrastructure and skilled human resources. This is where the new cybersecurity institution will play a vital role..." PM Modi said. "Development for us means balanced growth of India and opportunities for villages and small towns," PM 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 said. "It was from the soil of Odisha that a former Prime Minister of the country once said that for every rupee sent from Delhi, only 15 paise actually reached the people. That was a statement made by a Prime Minister. Now, when a rupee is sent from Delhi, the entire amount reaches the bank account of the intended beneficiary," he said. "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.
