The Reserve Bank of India has established an eight-member panel to examine quantum technology applications in the financial sector. The group is tasked with evaluating both potential benefits and associated risks over the coming months.
The committee will focus on opportunities, challenges and threats linked to quantum advancements. It is also set to assess how prepared Indian financial institutions are for related security issues.
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BlackRock, Coinbase, Strategy and six other firms have formed the Bitcoin Security Consortium to fund research protecting the network from future quantum computing risks. The group announced its formation on July 23 with a combined pledge of 15 million dollars over three years.
The Reserve Bank of India intends to broaden its digital rupee pilot this fiscal year. It is also exploring central bank digital currency applications in international transactions.
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Central bank governor Sanjay Malhotra held talks with bank chief executives on Tuesday. The discussions covered artificial intelligence, geopolitical issues and new expected credit loss guidelines. Some banks also shared estimates on inflows under the FCNR(B) scheme.
The US commerce department announced it will take equity stakes totaling $2 billion in nine quantum computing companies. The move includes funding for firms like IBM and GlobalFoundries as well as startups with ties to prominent investors.
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A majority of economists expect the Reserve Bank of India to keep its policy rate unchanged at the June meeting. Geopolitical tensions and adverse weather forecasts are cited as key factors behind the anticipated decision.
The Reserve Bank of India is proposing to allow lenders to disable certain mobile phone functions for loan defaulters on devices financed by the loan. The restrictions are set to take effect in October 2026 under strict oversight.
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The Securities and Exchange Board of India plans to launch bond exchange-traded funds and derivatives aimed at strengthening the corporate debt market.