Reserve Bank of India on May 25, 2026 announced the formation of an expert committee for developing a Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) to assess the opportunities and risks arising from quantum technologies in the financial sector.
The central bank said quantum technology has the potential to transform areas such as portfolio optimisation, risk management and macroeconomic modelling, while also posing challenges to existing cryptographic standards used in financial systems.
The committee will be convened by Anil Prabhakar and includes representatives from the Department of Science and Technology, State Bank of India, National Payments Corporation of India, the Ministry of Electronics and Information Technology, Data Security Council of India, and other experts from the quantum and financial technology ecosystem.
The committee’s responsibilities include evaluating the benefits, risks and challenges of quantum technologies in finance, assessing vulnerabilities in existing cryptographic systems, examining global regulatory frameworks, and reviewing industry preparedness for adopting quantum-safe cryptography.
It will also recommend a roadmap and framework for securing India’s financial system against future quantum-related cyber threats.
According to RBI, the FinTech Department at its Central Office will provide secretarial support to the committee, which may also consult domain experts, industry participants and other stakeholders during its deliberations.
The committee has been asked to submit its report within six months from the date of its first meeting.