C-DAC and Bank of India Join Hands to Advance Indigenous Quantum Technologies for Banking Applications

The Centre for Development of Advanced Computing (C-DAC), an autonomous scientific society under the Ministry of Electronics and Information Technology (MeitY), and Bank of India (BOI) signed a Memorandum of Understanding (MoU) to collaborate on quantum financial innovation and emerging technologies in banking. The partnership aims to build an indigenous quantum-resilient financial ecosystem, develop quantum-safe and quantum-inspired security measures, and explore artificial intelligence, blockchain, and high-performance computing applications in financial services. Additionally, the agreement focuses on proofs of concept, technology demonstrations, secure sandbox implementations, and capacity building for future-ready banking.