India cenbank plans 2025 launch of cloud services, countering dominance of global firms
The Hindu
Indian central bank is planning to launch cloud services in 2025 to counter foreign cloud businesses like AWS and Microsoft Azure.
India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential.
The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central bank.
The burgeoning cloud services market in Asia's third largest economy was estimated at $8.3 billion in 2023 and is expected to grow to $24.2 billion by 2028, according to a report by International Data Corporation, but it is largely dominated by foreign firms.
“We want to start implementing on a smaller scale in the next few months,” said one of the two sources, a senior executive working on the project.
The pilot will be expanded in phases over the next few years, the source said, adding the cloud service will be built keeping in mind the needs of smaller banking and financial services firms who find existing offerings unaffordable.
In December last year, RBI governor Shaktikanta Das announced plans to set up a public cloud for the financial services industry.
Details of the project have not been previously reported. The RBI did not respond to an email from Reuters seeking details of the project.
The ₹88.41 crore AMRUT scheme aims to eliminate Kavali's water scarcity, transforming the town’s infrastructure and services.
A 4.1 magnitude earthquake struck Sikkim's Mangan district; no casualties or property damage reported.
Telangana government updates building rules, increasing TDR usage, allowing more floors, and easing setback regulations for developers.
The escalating Israel-Iran conflict over the South Pars gas field threatens global energy security and impacts India's energy imports.
Delhi's weather forecast: clear skies, maximum temperature around 30°C, and moderate air quality with an AQI of 154.
Union Minister Kiren Rijiju meets Tamil Nadu Bishops and pastors to discuss minority welfare and counter anti-BJP narratives.
Japan may consider minesweeping in the Strait of Hormuz post-ceasefire, says Foreign Minister Motegi, amid ongoing regional tensions.
Delhi University job fair guidelines excluding School of Open Learning students spark protests over equity and access to opportunities.
Rwanda's Fanny Utagushimaninde, at 15, becomes the youngest player to score a T20 international century.
Assembly polls 2026: Follow updates from The Hindu on the upcoming elections in five States, on March 22, 2026
Currently, only the services in the 32 series stop at the section of the road adjacent to the Broadway terminus, temporarily closed on account of reconstruction work. Small traders association tells R. Ragu that ensuring the services now accommodated at the temporary terminus at Island Grounds stop at NSC Bose road would benefit visitors to the markets in Parrys
The Hindu photo feature on Aragam which is now known as book village. Photos and text by Imran Nissar
The silent reading movement in the Mylapore-Mandaveli-RA Puram area showed up first at Nageswara Rao Park around two years ago, with modest ambitions, when Balaji launched it along with other reading enthusiasts from the region. This initiative has now moved parks, and seems to set to get entrenched in one. Due to renovation work at Nageswara Park, the reading session became irregular. With the Nageswara Rao park work gaining more surface area, it had to be shifted elsewhere. And it seems set to continue with a newly discovered green patch in RK Nagar in the Sundays to follow.