The RBI has constituted an eight-member Expert Committee for a “Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE)” to explore and evaluate the potential benefits, risks and challenges of Quantum Technology in the financial sector.
“Quantum Technology represents a paradigm shift compared with traditional systems as it leverages the principles of quantum mechanics, such as superposition and entanglement.
“This enables quantum systems to address complex financial problems such as portfolio optimisation, risk assessment, macroeconomic modelling, etc..” per a RBI statement.
However, quantum technologies can also introduce significant risks, particularly the potential to undermine certain existing cryptographic standards.
The committee will evaluate the financial sector’s cryptographic inventory through a Cryptography Bill of Materials (CBOM), assess crypto agility and identify the critical systems and processes most vulnerable to such threats.
The panel will undertake a cross-country analysis and assess the adequacy of existing regulatory frameworks for the safe deployment of quantum applications.
Further, it will evaluate industry preparedness for the adoption of quantum-safe cryptography, including the availability, scalability, and maturity of vendor tools and solutions.
The committee, which will submit its report within six months of its first meeting, will recommend a roadmap and framework to quantum-secure the Indian financial system.
Members of the committee include Anil Prabhakar, Professor, Department of Electrical Engineering, IIT Madras; Sunil Kumar, Additional Secretary, Department of Science & Technology (DST), Government of India; Satish Rao Nagesh, Deputy Managing Director, State Bank of India (SBI); Dilip Asbe, MD and CEO, National Payments Corporation of India (NPCI).
Published on May 25, 2026
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