Finance ministry asks banks to plan quantum and AI resilience
In short
The finance ministry has asked banks to check for post-quantum risks and begin fixing them. It also wants a common sector plan for quantum transition and AI resilience.
This matters because banking data could face future decryption threats. The reporting does not say when the plan will be finalized or what exact rules banks must follow.
What the reporting says
The finance ministry has asked banks to assess post-quantum vulnerabilities and start mitigation measures, while also pushing for a sector-wide quantum transition and an AI resilience framework. An official said each bank can build its own strategy, but common industry parameters are needed. The reporting cites concerns about 'harvest now, decrypt later' attacks but does not say when the framework will be issued.
Why it matters
The finance ministry is reported to have asked banks to assess post-quantum vulnerabilities, begin mitigation measures, and work toward a sector-wide quantum transition with an AI resilience framework. An official said banks can make their own strategies but need common industry parameters. The cited risk is 'harvest now, decrypt later' attacks. The reporting does not include a deadline or formal policy text.