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PIB digest for Friday, 23 October

C-DAC and Bank of India Partner for Quantum Banking

Ministry of Electronics & IT · Science & Tech · Posted 23 OCT 2026 1:31PM

What happened

The Centre for Development of Advanced Computing (C-DAC) and Bank of India signed an MoU on October 22, 2026, to collaborate on quantum financial innovation, AI, and blockchain applications to build a quantum-resilient banking sector.

Why it matters for UPSC

This MoU illustrates the integration of indigenous quantum computing and emerging technologies into critical financial infrastructure, highlighting India's push towards self-reliance in cybersecurity and digital governance under science and technology.

Key objectives

  1. Establish a framework for joint research, pilots, and technology demonstrations in quantum and emerging technologies for banking.
  2. Develop a Quantum Ecosystem for Financial Innovation to tackle security challenges and build quantum-safe solutions.
  3. Collaborate on Blockchain, Artificial Intelligence, and other financial services technologies such as fraud analysis and smart contracts.
  4. Build a future-ready talent ecosystem through training and capacity-building programmes.