India urges banks to prepare for quantum and AI risks
Business
India wants its banks to get serious about future tech risks, especially from quantum computing and AI.
The government is worried that hackers could steal encrypted data now and crack it later when quantum computers become mainstream.
So, banks are being told to build a solid game plan to keep financial data safe as these new technologies evolve.
Banks to assess and fix vulnerabilities
Banks have been asked to check where they're vulnerable and start fixing those weak spots.
There's also a special group (led by SBI's chairman) working on how the whole sector can handle these risks.
By 2027, ministries and regulators will need to manage cryptographic assets smartly, basically making sure our money stays secure as tech keeps changing fast.