♦ The Centre for Development of Advanced Computing (C-DAC) and Bank of India have signed a memorandum of understanding to jointly explore quantum technologies and other emerging digital solutions for banking applications. The agreement provides a framework for joint research, pilot implementations, technology demonstrations and capacity building. It combines C-DAC’s expertise in advanced computing and indigenous technology development with Bank of India’s banking experience and nationwide operations.

♦ A key focus will be developing a “Quantum Ecosystem for Financial Innovation” to prepare banking systems for the opportunities and security challenges associated with quantum technologies. The organisations will explore quantum-inspired and quantum-safe technologies to strengthen security, resilience and decision-making.

♦ The partnership will identify priority banking use cases, test proofs of concept in secure sandbox environments and assess their technical feasibility and potential value. Emerging approaches will be benchmarked against existing systems before roadmaps are developed for further research, pilots or adoption.