The Reserve Bank of India (RBI) has urged payment system operators in India to start quantum-proofing the country’s payment infrastructure, Deputy Governor Shirish Chandra Murmu said at the Global Fintech Fest 2026 in Mumbai. The call emphasizes the need for banks, fintechs, technology providers, and standard setters to collaborate on building quantum resilience in payment systems.
Murmu highlighted that quantum resilience is an ecosystem capability rather than an institutional one, requiring coordinated efforts across the industry. The RBI had earlier formed an expert committee on creating a quantum secure and adaptive financial ecosystem. While no specific timeline or compliance deadline was announced, the Deputy Governor stressed the importance of beginning the transition given the long technology cycles in payment infrastructure.
The RBI’s push reflects growing concerns over the 'harvest now, decrypt later' threat, where encrypted data collected today could be decrypted in the future once quantum computing advances. This risk underscores the urgency for India’s payment systems to adopt quantum-resistant cryptographic standards. The initiative aligns with global trends as financial regulators and operators worldwide prepare for the eventual impact of quantum computing on cybersecurity.
The RBI’s announcement at the Global Fintech Fest 2026 marks a significant policy step, signaling the start of industry-wide efforts to enhance payment system security against emerging quantum threats. The central bank’s expert committee on quantum security continues to develop frameworks to guide this transition.