C-DAC and Bank of India sign research pact to explore quantum-safe banking

C-DAC and Bank of India have signed an agreement to explore quantum technologies and other emerging tools for banking. The memorandum was signed on October 22 and announced by the Electronics and IT Ministry on October 23. It creates a framework for joint research, pilot implementations, technology demonstrations and staff training.

A central focus is evaluating quantum-inspired and quantum-safe approaches for financial innovation, security and resilience. The partners plan to identify banking use cases, test proofs of concept in secure sandbox environments and compare new approaches with existing systems before drawing up development or adoption roadmaps.

The agreement also covers possible work on artificial intelligence, blockchain, fraud analysis, document processing, digital identity and secure data sharing. C-DAC brings computing and research capabilities, while Bank of India contributes banking expertise and a large operating environment.

The next stage is testing feasibility and practical value. The announcement describes a research and evaluation partnership; it does not establish that a quantum-based service has already been rolled out to bank customers.