C-DAC, Bank of India Partner on Quantum Banking Technology
The MoU focuses on indigenous quantum innovation, cybersecurity, AI and blockchain to strengthen India’s future-ready financial ecosystem.
- C-DAC and BOI sign technology partnership
- Quantum-safe solutions to strengthen banking security
- AI and blockchain applications included in MoU
- Training programmes to build future-ready talent
GG News Bureau
New Delhi, 23rd Oct: The Centre for Development of Advanced Computing (C-DAC) and Bank of India (BOI) have signed a Memorandum of Understanding (MoU) to advance indigenous quantum technologies and explore emerging technology applications in the banking and financial services sector.
Signed on October 22, 2026, the agreement establishes a framework for joint research, development, pilot implementations, technology demonstrations and capacity-building initiatives. The partnership aims to translate India’s domestic technology capabilities into practical banking solutions.
A key focus will be developing a quantum ecosystem for financial innovation, including quantum-inspired and quantum-safe technologies to address emerging cybersecurity challenges. The organisations will identify priority banking applications, test proofs of concept in secure environments and assess their technical feasibility and potential value.
Secretary of the Ministry of Electronics and Information Technology, S. Krishnan, welcomed the partnership and emphasised the need to build a quantum-resilient financial ecosystem amid growing cybersecurity concerns and emerging technological threats.
C-DAC Director General E. Magesh said the collaboration would help translate India’s indigenous quantum and emerging technology capabilities into practical banking applications through joint research, development and capacity building.
Bank of India Executive Director Rajiv Mishra said quantum technologies could reshape areas ranging from cybersecurity to complex financial decision-making. He added that the partnership would help the bank evaluate these opportunities systematically and develop the capabilities needed for future technological changes.
Beyond quantum computing, the MoU covers artificial intelligence, blockchain and other emerging technologies. Potential applications include intelligent document processing, fraud analysis, credit analytics, secure AI platforms, smart contracts, digital identity and secure data sharing.
The partnership will also support training programmes in quantum computing, quantum security, artificial intelligence and blockchain to develop skilled professionals for the evolving financial technology sector.
The MoU was exchanged by C-DAC Mumbai Executive Director Aditya Kumar Sinha and Bank of India Chief General Manager and Chief Information Officer Satyendra Singh. Senior officials from MeitY, C-DAC and Bank of India attended the event.
The initiative aims to create a structured pathway for adopting indigenous research and emerging technologies in banking while strengthening the security, resilience and technological readiness of India’s financial ecosystem.
