Context
The Reserve Bank of India (RBI) is working on establishing a cloud facility for the financial sector in India as it looks to enhance the security, integrity and privacy of financial sector data.
About
Central Bank's New Venture
Cloud services refer to the delivery of computing resources, such as storage, processing power, and applications, over the internet. Users can access and utilize these servicesremotely, eliminating the need for physical infrastructure and on-site management. |
Strategic Rationale
Enhancing Financial Data Security
Application of Cloud Services in Financial World-
Cloud services find extensive applicability in the finance sector due to several advantages:
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