RBI Constitutes Q-SAFE Committee

The Reserve Bank of India (RBI) has constituted an eight-member Expert Committee for a “Quantum Secure and Adaptive Financial Ecosystem (Q-SAFE)” to explore and evaluate the potential benefits, risks and challenges of Quantum Technology in the financial sector.

Quantum Technology represents a paradigm shift compared with traditional systems as it leverages the principles of quantum mechanics, such as superposition and entanglement.

The committee will evaluate the financial sector’s cryptographic inventory through a Cryptography Bill of Materials (CBOM), assess crypto agility and identify the critical systems and processes most vulnerable to such threats.

The committee will undertake a cross-country analysis and assess the adequacy of existing regulatory frameworks for the safe deployment of quantum applications.