# C-DAC and Bank of India sign MoU on quantum tech for banking URL: https://kasba.co.in/en/story/c-dac-and-bank-of-india-sign-mou-on-quantum-tech-for-banking Language: en · Section: Money · Published: 2026-10-24 Source: PIB, "बैंकिंग अनुप्रयोगों के लिए स्वदेशी क्वांटम प्रौद्योगिकियों को बढ़ावा देने की दिशा में सी-डेक और बैंक ऑफ इंडिया ने हाथ मिलाया", 2026-10-23, https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2327342 C-DAC and Bank of India signed a memorandum of understanding on 22 October 2026 to work together on indigenous quantum and other emerging technologies for banking. It does not directly affect ordinary customers right away; it is the start of work on future banking security and services. ## What this means for you Account holders have no form to fill or deadline to meet right now. This is a research and testing framework between the bank and C-DAC, so your banking service will not change immediately. Over time, the aim is to prepare banking systems for security challenges linked to quantum technologies. ## Key facts - The memorandum of understanding was signed on 22 October 2026. - It is between C-DAC and Bank of India. - C-DAC is an autonomous scientific society under the Ministry of Electronics and IT. - Areas of work: quantum technology, blockchain, artificial intelligence, cyber security and indigenous technology development. - Goals include showing proofs of concept in a secure sandbox and building a roadmap for the future. - Training and capacity-building programmes will also be a focus. ## What has happened C-DAC, an autonomous scientific society under the Ministry of Electronics and Information Technology, and Bank of India signed a memorandum of understanding on 22 October 2026. The aim is to work together on quantum financial innovation and the adoption of emerging technologies in banking. ## What the agreement sets out The memorandum creates a framework for the two organisations to explore joint research, development, experimental implementation, technology demonstration and capacity-building in technologies that matter for the banking and financial services sector. C-DAC's strengths in high performance computing, artificial intelligence, quantum technologies, blockchain, cyber security and indigenous technology development will be paired with Bank of India's banking expertise and its large technology environment. ## Focus on quantum technology A key goal is to develop quantum mechanisms for financial innovation, so that banking systems are prepared for the opportunities and emerging security challenges linked to quantum technologies. The two organisations will jointly explore quantum-inspired and quantum-safe technologies that can strengthen security, trust, resilience and decision-making in the banking system. ## What happens next According to the agreement, the partners will first identify a priority-based portfolio of banking use cases. They will then show proofs of concept in a secure sandbox environment and assess technical feasibility and potential banking value. After that they will work on standardising emerging approaches against existing systems and build a roadmap for further development, pilot projects or adoption. ## Beyond quantum The memorandum also provides a framework for cooperation in blockchain, artificial intelligence and other emerging technologies related to financial services. Possible areas include intelligent document processing, customer and employee support, fraud analysis, credit and financial analysis, secure AI platforms, responsible AI, smart contracts, digital identity and secure data sharing. ## Who benefits The partnership will also focus on building a future-ready talent pool through training and capacity-building programmes in areas such as quantum computing, quantum security, artificial intelligence and blockchain. At the signing, MeitY Secretary S. Krishnan said that with rising cyber security concerns and emerging technological threats, building a quantum-resistant financial ecosystem is necessary. ## What ordinary people need to do Nothing for now. This is a research and testing agreement between a bank and C-DAC, so no application, fee or deadline has been set for account holders. Any change in banking services will be communicated separately. ## Questions and answers **When did C-DAC and Bank of India sign the agreement?** On 22 October 2026. On that day the two organisations signed a memorandum of understanding to adopt quantum financial innovation and emerging technologies in banking. **Will this affect ordinary bank customers?** Not directly for now. It is a framework for research, testing and capacity building, so account holders do not have to do anything. **Which technologies will the agreement cover?** Quantum technology, blockchain, artificial intelligence, cyber security and indigenous technology development. Banking uses such as document processing, fraud analysis, credit analysis and digital identity are also listed. **What is C-DAC?** C-DAC, the Centre for Development of Advanced Computing, is an autonomous scientific society under the Ministry of Electronics and Information Technology. **Will banking services change immediately because of this?** No. The agreement says banking use cases will first be identified, tested in a secure sandbox and assessed for feasibility, after which a roadmap will be prepared. Kasba Desk, Kasba. This story was drafted with AI from an official notice and checked by an editor before publishing.