India, Oct. 26 -- Prime Minister Narendra Modi's inauguration of the Reserve Bank of India's (RBI) Rs.169-crore data centre in Bhubaneswar and Cybersecurity Training Institute in Jatni, near Bhubaneswar, marks a major milestone for India's digital banking ecosystem.

The new facility is intended to strengthen the financial infrastructure behind digital banking and improve the resilience of critical payment systems.

It does not mean that every digital transaction will automatically become faster or that outages will be eliminated.

The RBI Bhubaneswar data centre will house mission-critical payment and settlement systems, including RTGS and NEFT.

These systems support the movement and settlement of funds across India's banking network. T...