The Indian finance ministry has mandated public sector banks (PSBs) to explore quantum-resistant encryption as part of their cybersecurity strategy. Experts warn that advancements in quantum computing could soon enable the decryption of current encryption methods in seconds. To prepare for this, India's banking and telecom sectors may need to invest up to ₹2,000 crore each over the next five to seven years to upgrade their cybersecurity infrastructure. Additionally, the National Quantum Mission (NQM) has allocated ₹6,000 crore to develop a 2,000-km quantum communication network by 2030-31. Major global banks are already testing quantum-safe encryption to protect customer data, with Indian banks like Punjab National Bank and State Bank of India actively pursuing quantum-proof systems and partnerships to enhance their security measures. Transitioning to quantum security will be a complex process, as existing vulnerabilities permeate various banking systems, necessitating thorough identification and upgrades.