Latest news with #NQM
The Hindu
3 hours ago
- Science
- The Hindu
India could achieve quantum communication using satellite by 2030, says IIT-Delhi Professor
India could be technologically capable of 'quantum communication' using satellites in the 'next half a decade' Professor Bhaskar Kanseri of the Indian Institute of Technology (IIT)-Delhi, whose team recently reported an instance of quantum key distribution one kilometre apart — the farthest such transmission in India, without any connecting cables — told The Hindu in an interview. This, however, would require large teams of well-funded multidisciplinary experts and the involvement of start-ups which are specifically geared towards such ends, Prof. Kanseri said. Safe quantum communication requires enabling a sender and receiver to get 'quantum keys', which are made of streams of photons — the carriers of light. Quantum Key Distribution (QKD) employs principles of quantum mechanics: the incompletely understood principles underlying the behaviour of atomic and sub-atomic particles, including photons. While there are a couple of approaches in using QKD, one of them — said to be the most secure but technically harder to implement — uses quantum entanglement. Pairs of photons are naturally 'entangled', in a way that a change in one instantaneously reflects in the other. Applying this to encryption means that even the mere attempt by a potential hacker into a QKD-secured transmission of information becomes apparent to those communicating, thus allowing preventive measures. While generating such secure keys can be done through physical networks, including fibre optic cables, the goal is to be able to do it in 'free-space' or without such intervening wires. This is because the cost of such transmissions using cables rapidly rises once the sender and receiver are hundreds of kilometres apart. Thus the ideal step would be to involve satellites, which can act as an intermediary between any two points even if they are thousands of kilometres apart. However, using fibre optic cables provides a stable channel for quantum communication which free-space channels do not. Atmospheric disturbances such as turbulence, air flow, pollution, etc., particularly in a city such as the Delhi National Capital Region, made it more 'challenging' to demonstrate free-space quantum communication. 'The photon beam of quantum channel diverges and wanders due to these disturbances and results in more errors. Owing to these reasons, the error rates are generally higher than the fibre ones. However, with better beam control and optimisation, there is a scope to reduce these errors,' Prof. Kanseri said. China had demonstrated satellite-based quantum communication nearly one decade ago, as they had a head start in quantum communication activities since the early 2000s, he surmised. 'I strongly believe that India, which started quite recently (in the 2020s), will achieve it in next half-a-decade or so, as under the National Quantum Mission (NQM), a strong focus is to develop satellite-based long distance quantum communication,' Prof. Kanseri, who is currently in the U.S., said in an email. As an academic institute, IIT-Delhi's experiments in quantum communication so far were 'proof of concept (POC) nature' conducted with a small team of four to five students, explained Prof Kanseri. 'Satellite based quantum communication would be one of the biggest projects and require not only adequate funds but also a large, dedicated team of multidisciplinary skilled experts for developing several types of enabling technologies. Quantum startups, mentored by researchers working in quantum technologies, if funded adequately, can contribute immensely in translation of technologies from lab to market, and in prototyping quantum technologies in a focussed and faster manner. In addition, indigenous development of needed equipment and components is also required,' Prof. Kanseri said. In 2017 and 2020, researchers at the University of Science and Technology of China, during multiple instances, generated quantum keys involving a satellite (500 km above the ground) and ground stations 1,000 and 1,700-km apart. Since 2005, there have been ground demonstrations in Europe, Canada, and the United States of free-space (without cables) QKD greater than 100 km, suggesting that India still has much to cover regarding QKD-entanglement communication. In January 27, 2022, scientists from the Department of Space (DOS), namely, Space Applications Centre (SAC) and Physical Research Laboratory (PRL), both in Ahmedabad, jointly demonstrated quantum entanglement based real time Quantum Key Distribution (QKD) over a 300-metre atmospheric channel. In 2021, a team of scientists led by Urbasi Sinha demonstrated perhaps the first instances of such free-space communication in Bangalore over building separated by 50 metres. Quantum key distributions over much greater distances have been achieved over optical fibre networks. Prof. Kanseri's team demonstrated an intercity quantum-communication link between Vindhyachal and Prayagraj in 2022, using commercial grade underground dark optical fibre. In 2024, the team successfully distributed quantum keys using entanglement over a 100 km spool of telecom-grade optical fibre in another project supported by the Defence Research and Development Organisation.
The Hindu
10 hours ago
- Science
- The Hindu
With money and manpower, India could achieve quantum satellite communication by 2030, says expert
India could be technologically capable of 'quantum communication' using satellites in the 'next half a decade' Professor Bhaskar Kanseri of the Indian Institute of Technology (IIT)-Delhi, whose team recently reported an instance of quantum key distribution one kilometre apart — the farthest such transmission in India, without any connecting cables — told The Hindu in an interview. This, however, would require large teams of well-funded multidisciplinary experts and the involvement of start-ups which are specifically geared towards such ends, Prof. Kanseri said. Safe quantum communication requires enabling a sender and receiver to get 'quantum keys', which are made of streams of photons — the carriers of light. Quantum Key Distribution (QKD) employs principles of quantum mechanics: the incompletely understood principles underlying the behaviour of atomic and sub-atomic particles, including photons. While there are a couple of approaches in using QKD, one of them — said to be the most secure but technically harder to implement — uses quantum entanglement. Pairs of photons are naturally 'entangled', in a way that a change in one instantaneously reflects in the other. Applying this to encryption means that even the mere attempt by a potential hacker into a QKD-secured transmission of information becomes apparent to those communicating, thus allowing preventive measures. While generating such secure keys can be done through physical networks, including fibre optic cables, the goal is to be able to do it in 'free-space' or without such intervening wires. This is because the cost of such transmissions using cables rapidly rises once the sender and receiver are hundreds of kilometres apart. Thus the ideal step would be to involve satellites, which can act as an intermediary between any two points even if they are thousands of kilometres apart. However, using fibre optic cables provides a stable channel for quantum communication which free-space channels do not. Atmospheric disturbances such as turbulence, air flow, pollution, etc., particularly in a city such as the Delhi National Capital Region, made it more 'challenging' to demonstrate free-space quantum communication. 'The photon beam of quantum channel diverges and wanders due to these disturbances and results in more errors. Owing to these reasons, the error rates are generally higher than the fibre ones. However, with better beam control and optimisation, there is a scope to reduce these errors,' Prof. Kanseri said. China had demonstrated satellite-based quantum communication nearly one decade ago, as they had a head start in quantum communication activities since the early 2000s, he surmised. 'I strongly believe that India, which started quite recently (in the 2020s), will achieve it in next half-a-decade or so, as under the National Quantum Mission (NQM), a strong focus is to develop satellite-based long distance quantum communication,' Prof. Kanseri, who is currently in the U.S., said in an email. As an academic institute, IIT-Delhi's experiments in quantum communication so far were 'proof of concept (POC) nature' conducted with a small team of four to five students, explained Prof Kanseri. 'Satellite based quantum communication would be one of the biggest projects and require not only adequate funds but also a large, dedicated team of multidisciplinary skilled experts for developing several types of enabling technologies. Quantum startups, mentored by researchers working in quantum technologies, if funded adequately, can contribute immensely in translation of technologies from lab to market, and in prototyping quantum technologies in a focussed and faster manner. In addition, indigenous development of needed equipment and components is also required,' Prof. Kanseri said. In 2017 and 2020, researchers at the University of Science and Technology of China, during multiple instances, generated quantum keys involving a satellite (500 km above the ground) and ground stations 1,000 and 1,700-km apart. Since 2005, there have been ground demonstrations in Europe, Canada, and the United States of free-space (without cables) QKD greater than 100 km, suggesting that India still has much to cover regarding QKD-entanglement communication. In January 27, 2022, scientists from the Department of Space (DOS), namely, Space Applications Centre (SAC) and Physical Research Laboratory (PRL), both in Ahmedabad, jointly demonstrated quantum entanglement based real time Quantum Key Distribution (QKD) over a 300-metre atmospheric channel. In 2021, a team of scientists led by Urbasi Sinha demonstrated perhaps the first instances of such free-space communication in Bangalore over building separated by 50 metres. Quantum key distributions over much greater distances have been achieved over optical fibre networks. Prof. Kanseri's team demonstrated an intercity quantum-communication link between Vindhyachal and Prayagraj in 2022, using commercial grade underground dark optical fibre. In 2024, the team successfully distributed quantum keys using entanglement over a 100 km spool of telecom-grade optical fibre in another project supported by the Defence Research and Development Organisation.
Hans India
05-06-2025
- Business
- Hans India
Cabinet nod for Quantum Mission in Amaravati capital
Vijayawada: The state Cabinet, chaired by Chief Minister N Chandrababu Naidu on Wednesday, accorded approval to the establishment of state Quantum Mission to fuel the growth of the information technology sector in Amaravati greenfield capital. Announcing this at a press conference at the Secretariat after the Cabinet meeting, Information and Public Relations Minister K Parthasarathy said the Cabinet had given consent to the Quantum Mission proposed by the Department of IT, Electronics and Communications as part of India's National Quantum Mission (NQM). A Quantum Valley, which will be set up in the capital city, will promote research in Artificial Intelligence (AI) and cyber security in partnership with TCS, IIT-Madras and IBM to attract world class researchers. The minister said Naidu aims to make Amaravati number one in quantum computing and added that India is currently at the sixth position in this segment in the world while AP is on top within India. "In future, Andhra Pradesh will be on top in the world in quantum computing. From schools to universities, all of them will be involved in training," he said. Parthasarathy said the government formed a committee of experts on quantum computing and noted that 50 acres of land has been allocated in Amaravati for Quantum Valley development. Further, the minister said the Cabinet gave its nod for viability gap funding of Rs 57 crore and Rs 82 crore for drinking water projects at Uddhanam in Srikakulam district and Kuppam in Chittoor district respectively. The Cabinet also approved the promotion of 248 Andhra Pradesh Special Police (APSP) constables as head constables in the department. The Cabinet also approved the Home Department's proposals for the release of 17 life-term prisoners. For the establishment of Andhra Pradesh Police Academy, the Cabinet approved the free transfer of government land in Eluru district to the Home Department. Similarly, the Cabinet greenlighted the Health and Family Welfare Department's proposals to achieve a world record on International Yoga Day on June 21. Moreover, the Cabinet approved the Industries Department's proposal to set up one MSME park per assembly constituency, totalling 175 across the state as part of 'One Family, One Entrepreneur' programme, among others. Further, administrative approvals included the formalisation of the YSR district's name change to YSR Kadapa district. Earlier, the Cabinet extended congratulations to the Chief Minister Naidu for the successful implementation of several welfare schemes in the past year.
Business Wire
04-06-2025
- Business
- Business Wire
KBRA Releases Research – Non-QM Default Study: A Decade of Insights
NEW YORK--(BUSINESS WIRE)--KBRA releases its non-qualified mortgage (NQM) RMBS default study, analyzing over 475,000 loans representing $216.7 billion in original balance from nearly 600 NQM transactions issued between 2015 and April 2025. This report examines performance dynamics across more than 15 key loan attributes—including vintage, CLTV, credit score, documentation type, DSCR underwriting, occupancy, loan purpose, product type, and borrower reserves—and identifies how layered risk factors impact credit outcomes. Key Takeaways KBRA's analysis focused on more than 475,000 loans from nearly 600 NQM transactions issued since 2015. The weighted average (WA) cumulative default rate for NQM loans stands at 3.8%, while realized credit losses remain minimal, averaging just 0.03%. Of the 16,757 defaulted loans, approximately 6,606 have experienced losses—mostly from forbearance or capitalized amounts on active or prepaid loans with an average severity of 1.2% and 0.6%, respectively. Just over 300 loans incurred meaningful losses due to involuntary liquidation, with an average severity of 26.5%. Non-prime credit profiles that included borrowers with prior credit events have shown meaningfully higher default rates than those without, ranging between approximately 8% and 10%. The default study reviews the performance distributions across a comprehensive set of more than 15 loan characteristics including vintage, CLTV, credit score, documentation type, DSCRs, occupancy, loan purpose, and liquid reserves. Deal vintages from 2019 and 2020 have exhibited the highest in default rates due to the COVID-19 pandemic. Loans from 2022 and 2023 deal vintages reflect the next highest, when excluding COVID defaults from all vintages. To date, cumulative defaults for 2019 and 2020 vintages stand at approximately 5.5% and 5%, respectively, excluding COVID defaults. This compares with 2022 and 2023 vintages at around 4% and 4.1%, respectively. Key default drivers (such as CLTV and credit score) show marked variation in default rates across their distribution ranges. Loans with CLTVs of 85% or higher exhibited default rates of 5.5% to date, while those with CLTVs of 65%-70% show defaults of 4.1%. Meanwhile, borrowers with FICO scores below 660 have default rates of nearly 10%, while those above 760 have default rates below 2%. KBRA observes that loans with full income documentation (Full Doc) exhibit notably lower default rates compared to those with alternative documentation (Alt Doc), which have, on average, defaulted at rates 12.9% higher than Full Doc loans. Within the Alt Doc category, performance tends to be more uniform, with DSCR, bank statement, and P&L/CPA letter loans exhibiting similar default behavior. Notable exceptions include written verification of employment (WVOE) and asset-underwritten loans, which demonstrate comparatively stronger performance. Across many loan attributes, variation in default rates between cohorts is narrower than might be expected. This is largely due to lenders' efforts to manage risk layering by requiring compensating factors for loans with higher-risk attributes. An example where this effect is particularly evident is the comparable performance of investor-occupied and owner-occupied loans. In part, this similarity is driven by differences in required FICO scores and CLTV ratios between the two occupancy types. Click here to view the report. Related Publications About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1009732
Yahoo
04-06-2025
- Business
- Yahoo
KBRA Releases Research – Non-QM Default Study: A Decade of Insights
NEW YORK, June 04, 2025--(BUSINESS WIRE)--KBRA releases its non-qualified mortgage (NQM) RMBS default study, analyzing over 475,000 loans representing $216.7 billion in original balance from nearly 600 NQM transactions issued between 2015 and April 2025. This report examines performance dynamics across more than 15 key loan attributes—including vintage, CLTV, credit score, documentation type, DSCR underwriting, occupancy, loan purpose, product type, and borrower reserves—and identifies how layered risk factors impact credit outcomes. Key Takeaways KBRA's analysis focused on more than 475,000 loans from nearly 600 NQM transactions issued since 2015. The weighted average (WA) cumulative default rate for NQM loans stands at 3.8%, while realized credit losses remain minimal, averaging just 0.03%. Of the 16,757 defaulted loans, approximately 6,606 have experienced losses—mostly from forbearance or capitalized amounts on active or prepaid loans with an average severity of 1.2% and 0.6%, respectively. Just over 300 loans incurred meaningful losses due to involuntary liquidation, with an average severity of 26.5%. Non-prime credit profiles that included borrowers with prior credit events have shown meaningfully higher default rates than those without, ranging between approximately 8% and 10%. The default study reviews the performance distributions across a comprehensive set of more than 15 loan characteristics including vintage, CLTV, credit score, documentation type, DSCRs, occupancy, loan purpose, and liquid reserves. Deal vintages from 2019 and 2020 have exhibited the highest in default rates due to the COVID-19 pandemic. Loans from 2022 and 2023 deal vintages reflect the next highest, when excluding COVID defaults from all vintages. To date, cumulative defaults for 2019 and 2020 vintages stand at approximately 5.5% and 5%, respectively, excluding COVID defaults. This compares with 2022 and 2023 vintages at around 4% and 4.1%, respectively. Key default drivers (such as CLTV and credit score) show marked variation in default rates across their distribution ranges. Loans with CLTVs of 85% or higher exhibited default rates of 5.5% to date, while those with CLTVs of 65%-70% show defaults of 4.1%. Meanwhile, borrowers with FICO scores below 660 have default rates of nearly 10%, while those above 760 have default rates below 2%. KBRA observes that loans with full income documentation (Full Doc) exhibit notably lower default rates compared to those with alternative documentation (Alt Doc), which have, on average, defaulted at rates 12.9% higher than Full Doc loans. Within the Alt Doc category, performance tends to be more uniform, with DSCR, bank statement, and P&L/CPA letter loans exhibiting similar default behavior. Notable exceptions include written verification of employment (WVOE) and asset-underwritten loans, which demonstrate comparatively stronger performance. Across many loan attributes, variation in default rates between cohorts is narrower than might be expected. This is largely due to lenders' efforts to manage risk layering by requiring compensating factors for loans with higher-risk attributes. An example where this effect is particularly evident is the comparable performance of investor-occupied and owner-occupied loans. In part, this similarity is driven by differences in required FICO scores and CLTV ratios between the two occupancy types. Click here to view the report. Related Publications 2025 Mortgage Policy Summit Recap RMBS Trend Watch: Deconstructing Non-Prime Risk Layers U.S. RMBS Credit Indices: April 2025 KBRA-Rated RMBS Exposure to Los Angeles Wildfires About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1009732 View source version on Contacts Jack Kahan, Senior Managing Director, Global Head of ABS & RMBS+1 Armine Karajyan, Senior Director+1 Yee Cent Wong, Senior Managing Director, Lead Analytical Manager, Structured Finance Ratings+1 Eric Thompson, SMD, Global Head of Structured Finance Ratings+1 Media Contact Adam Tempkin, Senior Director of Communications+1 Business Development Contact Daniel Stallone, Managing Director+1 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
