Bhubaneswar, Nov 6 (UDN): On the occasion of the inauguration of the Reserve Bank of India’s (RBI) state-of-the-art Data Centre and Cybersecurity Training Institute, RBI Governor Sanjay Malhotra highlighted the important role played by the central bank in promoting the use of technology in the banking and financial sectors.
He emphasized that technology has significantly transformed banking services and financial transactions, making them more accessible and convenient for millions of people across the country.
The key highlights of his remarks are as follows:
\- Expansion of Digital Payments: Systems such as the Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), have enabled millions of people to access convenient and efficient digital payment services.
\- Responsible Use of Artificial Intelligence: The use of Artificial Intelligence (AI) in the banking and financial sectors must prioritize accountability, fairness and transparency to ensure that technological advancements are implemented responsibly.
\- Strengthening Cybersecurity: Cybersecurity is essential to maintaining public trust in the banking system and protecting digital financial transactions from emerging cyber threats.
\- Robust Regulatory Framework: Governor Sanjay Malhotra stated that regulations relating to IT governance, cyber resilience and digital payment security have been implemented to strengthen the safety and reliability of the financial ecosystem.
The inauguration of the advanced Data Centre and Cybersecurity Training Institute marks an important step towards strengthening technological infrastructure, improving cybersecurity preparedness and supporting the continued digital transformation of India’s banking and financial services sector.