RBI Forms Q-SAFE Committee on Quantum Technology

The Reserve Bank of India (RBI) formed an eight-member expert committee on 25 May 2026 to assess the benefits, risks, and challenges of quantum technology in the financial sector. The panel is named the Expert Committee for a Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE) and will study quantum-related cyber threats for India’s financial system.

Quantum Technology in Finance

Quantum technology uses principles of quantum mechanics, including superposition and entanglement, for computation and communication. In finance, quantum methods are linked with portfolio optimisation, risk assessment, and macroeconomic modelling. Quantum computing can also affect current cryptographic systems used in banking and digital payments.

Committee Composition and Roles

Anil Prabhakar, Professor in the Department of Electrical Engineering at IIT Madras, is the convener of the committee. Suvendu Pati, Chief General Manager of the FinTech Department at RBI, is the Member-Secretary. The panel includes Sunil Kumar of the Department of Science and Technology, Satish Rao Nagesh of State Bank of India, Dilip Asbe of the National Payments Corporation of India, Manoj Kumar Jain of the Ministry of Electronics and Information Technology, Vinayak Godse of the Data Security Council of India, and L Venkata Subramaniam, a former IBM Quantum India head.

Mandate of the Q-SAFE Panel

The committee will examine the financial sector’s cryptographic inventory through a Cryptography Bill of Materials (CBOM). It will assess crypto agility, identify critical systems vulnerable to quantum threats, and review industry preparedness for quantum-safe cryptography. The panel will also study the availability, scalability, and maturity of vendor tools and solutions for quantum-secure adoption.

Important Facts for Exams

• Quantum computing is based on qubits, which can represent more than one state at a time.
• Cryptography Bill of Materials (CBOM) is a structured inventory of cryptographic assets used in a system.
• Crypto agility refers to the ability to replace or update cryptographic algorithms without major system changes.
• The panel is expected to submit its report within six months from its first meeting.

Exam-Relevant Context

The RBI is India’s central bank and was established in 1935 under the Reserve Bank of India Act, 1934. The National Payments Corporation of India manages retail payment systems such as UPI and RuPay.