about enchancement in indian banking system using russian technology

1. Russian Technology in
Indian Banking System
- A WAY TO KEEP HACKERS AT BAY

2. Problem being faced: HACKERS
• Hacking targets are multiplying in India as the country goes digital.
• Technology company Yahoo too faced a huge data breach when it
discovered a hacking attack dating back to 2013 that may have affected more
than one billion of its user accounts.
• Researchers in India at cybersecurity company FireEye recently discovered
phishing websites created by cybercriminals that spoof 26 Indian banks in
order to steal personal information from customers. In another incident, the
security of about 3.2 million debit cards got compromised in the country.

3. Problem being faced: HACKERS
• If IT giants like 'Yahoo' are vulnerable, we can well imagine the cyber risks
that banks or financial institutions can experience, with the current surge in
digitization.
• However, hacking attacks cannot only be performed using normal
computers.
• This year Google announced that it is working on protecting Chrome against
possible attacks of quantum computers. The search giant is doing this by
deploying post-quantum cryptography in an experimental version of the
browser.

4. RUSSIAN
COLLABORATION
Russian Quantum Center (RQC) said that it is
ready to collaborate with India and offer its
quantum technology that will prevent hackers from
breaking into bank accounts. RQC plans to offer
'quantum cryptography’ that could propel India to
the forefront of hack proof communication in
sectors such as banking and national and homeland
security.

5. WHAT THIS TECHNOLOGY INCLUDES?
• This includes developing 'unbreakable cryptography' for the banks and the
government organisations. It also involves research in areas such as materials
with superior properties and new systems for ultrasensitive imaging of the
brain.
• The 'Quantum cryptography' created by RQC depends more on physics,
rather than mathematics. It is based on the usage of individual particles or
waves of light (photon) and their intrinsic quantum properties to develop an
unbreakable cryptosystem

6. Quantum Key Distribution(QKD)
• The traditional encryption depends on transmitting a decryption key along
with the secret information. The recipient then uses that key for deciphering
that secret data. But hackers can clone this key and steal the information.
• To address this problem the most promising application of quantum
cryptography is Quantum key distribution (QKD). RQC said that two users
can establish QKD session, that allows them to obtain a random private key.
QKD is distinct as it encrypts this key on light particles called photons.

7. Quantum Key Distribution(QKD)
• A hacker trying to clone or read such a key would automatically change its
state, due to fundamental principle of quantum mechanics. It would also
leave a hacker fingerprint. This means the recipient and the transmitter can
easily detect the attempts to read or intercept the information.

8. Conclusion
• This collaboration of Russia with India to share its technology with the
banking system will help India to keep Hackers at bay!
• Since the technology develops unbreakable encryption, hacking is not
possible and will also help to trace the hacker.
• Even google has announced the usage of quantum technology for safer
google chrome!

9. THANK YOU!
Presented By
-Sunil Sai Moturi