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RBI studies quantum computing risks in banking
25 May 2026

The Reserve Bank of India (RBI) has announced the formation of an eight-member expert committee to study the potential benefits, risks, and challenges of quantum technology in banking.

The committee, dubbed Q-SAFE (Quantum Secure and Adaptive Financial Ecosystem), will explore how this advanced tech can improve financial services while also looking at possible threats it could pose.

Potential benefits and risks of quantum tech in banking
Tech impact

Quantum technology is a major departure from traditional systems as it uses quantum mechanics principles like superposition and entanglement.

The RBI said this tech can help solve complex financial problems such as portfolio optimization, risk assessment, and macroeconomic modeling.

However, it also comes with risks that could compromise some existing cryptographic standards in the banking sector.

Key objectives of the Q-SAFE committee
Committee goals

The Q-SAFE committee will look into the financial sector's cryptographic inventory through a Cryptography Bill of Materials (CBOM).

It will assess crypto agility and identify critical systems/processes most vulnerable to these threats.

The panel will also check industry readiness for adopting quantum-safe cryptography, including availability, scalability, and maturity of vendor tools/solutions.

Finally, it will recommend a roadmap/framework to quantum-secure the Indian financial system.

Committee members and their designations
Leadership

Anil Prabhakar, a professor in the Department of Electrical Engineering at IIT Madras, has been appointed as the convener of this expert panel.

Other members include Sunil Kumar (Additional Secretary, Department of Science and Technology); Satish Rao Nagesh (Deputy Managing Director, SBI); Dilip Asbe (MD and CEO, NPCI); Manoj Kumar Jain (Scientist-G and Group Coordinator MeitY); Vinayak Godse (CEO DSCI), and L Venkata Subramaniam (Quantum India Servant Leader ex-IBM Quantum India Head).

Committee to submit report in 6 months
Panel secretariat

Suvendu Pati, the Chief General Manager of RBI's FinTech Department, has been named as the Member-Secretary of this expert panel.

The committee is expected to submit its report within six months from the date of its first meeting.

This move by RBI highlights its commitment toward exploring and potentially adopting quantum technology in banking for enhanced security and efficiency.