Preparing for Quantum Computing Threats The finance ministry's directive for public sector banks (PSBs) to explore quantum-resistant encryption is critical for India's financial sector. It pushes banks to prepare for a future where quantum computing could break today's strongest encryption quickly. Experts project "Q-Day," the point at which quantum computers can break current cryptography, to arrive as early as 2029, with broader consensus pointing to the mid-2030s. State Bank of India, the nation's largest lender with a market capitalization nearing ₹1 trillion, is already collaborating with IIT Jodhpur on tackling phishing apps. Punjab National Bank is focusing on "Quantum-Proof Systems for Public-Facing Applications," while UCO Bank is developing audio forensics to combat voice cloning fraud. These individual efforts are amplified by national initiatives like India's National Quantum Mission, which has a ₹6,003.65 crore outlay and aims to establish a 2,000-km quantum communication network by 2030-31. The mission has already demonstrated a 1,000-km secure communication network, showcasing indigenous technological advancements. Global Race and India's National Quantum Mission India is not alone in this push for quantum readiness. Major global financial firms, including JPMorgan Chase, Goldman Sachs, Barclays, HSBC, and Mastercard, are testing quantum-safe encryption methods. This global race highlights the importance of post-quantum cryptography (PQC) for protecting sensitive data and transactions. Regulators in the US, Europe, and the G7 are also urging banks to enhance computing infrastructure security, targeting critical systems by 2030. Indian PSBs are entering this domain with varying financial profiles. SBI, with a P/E ratio around 11-12 and a market cap of approximately ₹1 trillion, appears to be valued moderately. PNB trades at a lower P/E of around 7-8, reflecting a market capitalization of roughly ₹131,000 crore. UCO Bank, with a market cap of about ₹33,500 crore, has a P/E ratio around 12-13, indicating a similar valuation to