India’s central bank launches an eight-member committee to evaluate quantum technology’s impact on financial system security and regulatory readiness.
The Reserve Bank of India has established an eight-member committee to examine quantum technology’s implications for the financial sector. The panel, led by IIT Madras professor Anil Prabhakar, will assess risks, operational challenges, and cryptographic vulnerabilities in banking systems.
The committee’s mandate includes reviewing global regulatory frameworks, conducting a cryptographic inventory via a Cryptography Bill of Materials, and evaluating industry preparedness for quantum-safe solutions. It will also identify high-risk systems and compare India’s approach with other countries.
The RBI’s FinTech Department will provide secretarial support, with Suvendu Pati named as Member-Secretary. The panel may consult specialists, industry participants, and other stakeholders as needed.