The Centre for Development of Advanced Computing (C-DAC), Pune, in collaboration with the
IIT Bhilai Innovation and Technology Foundation (IBITF), organized a workshop on Quantum-
Safe Financial Transaction Technologies under the FinTeQ Project, jointly developed by C-DAC
Pune, C-DAC Noida, and the Indian Institute of Technology (IIT) Bhilai, with the support of the
Ministry of Electronics and Information Technology (MeitY), Government of India. The
workshop brought together representatives from the Ministry of Electronics and Information
Technology (MeitY), Reserve Bank of India (RBI), National Payments Corporation of India
(NPCI), Data Security Council of India (DSCI), Industrial Development Bank of India (IDBI),
Mastercard, Bajaj Finserv, CredenTek, Indian Institute of Science Education and Research
(IISER) Pune, IIT Bhilai Innovation and Technology Foundation (IBITF), Centre for
Development of Advanced Computing (C-DAC), and other organizations from the Banking,
Financial Services, and Insurance (BFSI) sector.
The workshop focused on the growing cybersecurity challenges posed by the rapid advancement
of quantum computing, which has the potential to compromise many of today’s encryption
methods. Experts discussed the need to adopt quantum-safe technologies to ensure that India’s
banking and financial systems remain secure against future cyber threats. The FinTeQ Project
team showcased indigenous technologies designed to strengthen the security of digital financial
transactions. These included TrusToken, a hardware-based security token that enables secure
user authentication, digital signatures, and protection against identity theft, unauthorized access,
and financial fraud. The team also demonstrated Quantum Key Distribution (QKD), a next-
generation technology that enables highly secure communication for protecting sensitive
financial data and critical banking infrastructure.
The workshop also provided a platform to
explore pilot deployments and collaborations with banks and financial institutions for evaluating
these technologies in real-world environments.
The event reaffirmed the commitment of C-DAC Pune, C-DAC Noida, IIT Bhilai, IBITF, and
MeitY to developing indigenous quantum-safe cybersecurity technologies and strengthening the
security and resilience of India’s digital financial ecosystem.
