RBI may be planning to take on Google, Amazon and Microsoft in 2025 with this first-ever service by a central bank

The Reserve Bank of India’s (RBI) initiative central bank will roll out a pilot program next year to provide cloud storage services to financial institutions, challenging the dominance of global tech giants in the country’s rapidly growing cloud market, Reuters report.
The RBI’s initiative, which sources say will begin implementation in early 2025, aims to offer affordable cloud solutions primarily targeting smaller banking and financial services firms. This marks the first such venture by a major central bank globally.