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

The Centre for Development of Advanced Computing (C-DAC), an autonomous scientific society under the Ministry of Electronics and Information Technology (MeitY), Government of India, and Bank of India (BOI), signed a Memorandum of Understanding (MoU) to collaborate on quantum financial innovation and the adoption of emerging technologies in banking yesterday.

S. Krishnan, Secretary IAS, MeitY, congratulated Bank of India for its contribution to technological advancement and appreciated its collaboration with C-DAC to foster indigenous innovation.

Commenting on the MoU, E. Magesh, Director General, C-DAC, said, This collaboration with Bank of India is an important step towards translating India’s indigenous quantum and emerging technology capabilities into practical banking solutions.

Commenting on the collaboration, Rajiv Mishra, Executive Director, BOI, said, “Quantum technologies have the potential to reshape several aspects of banking, from cybersecurity to complex financial decision-making. (UPDATED ON 23RD OCTOBER 2026)