The Ministry of Electronics & IT announced on 23 October 2026 that the Centre for Development of Advanced Computing (C-DAC) and Bank of India (BOI) signed a Memorandum of Understanding on 22 October 2026. The partnership aims to develop a Quantum Ecosystem for Financial Innovation to improve banking security and decision-making using indigenous quantum-safe technologies. The collaboration also covers research into Artificial Intelligence, Blockchain, and capacity-building through training programmes. The release does not say when the specific projects will take effect.
Key points
- Focuses on quantum-inspired and quantum-safe technologies for banking security and resilience.
- Includes collaboration on AI, Blockchain, and intelligent document processing.
- Will develop Proofs of Concept in secure sandbox environments.
- Aims to create a talent ecosystem through training in Quantum Computing and AI.
When it applies
- signing of the MoU
Who it affects
- C-DAC and Bank of India