RBI to launch cloud services in 2025 to challenge global firm dominance

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RBI to launch cloud services in 2025 to challenge global firm dominance - Business Standard

Quick Summary:

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.

Companies can apply by themselves or as part of a consortium and would be required to set up data centre facilities in Mumbai and Hyderabad."We have a humongous amount of interest (from private players who want to partner).

In December last year, RBI governor Shaktikanta Das announced plans to set up a public cloud for the financial services industry.