SBI and IIT Guwahati honour winners of PSB Hackathon ‘FINNOVATION 2025’ in Gurugram

Bengaluru, August 22, 2025: State Bank of India (SBI), the country’s largest bank, in partnership with the Indian Institute of Technology Guwahati (IIT-G), successfully concluded the PSB Hackathon Series 2025 - FINNOVATION with a grand felicitation ceremony. The series was organized under the aegis of the Department of Financial Services (DFS) in coordination with the Indian Banks’ Association (IBA), aims to encourage innovation and driving scalable solutions in fintech and cybersecurity. Winners were felicitated by M. Nagaraju, Secretary, DFS, in the presence of Challa Sreenivasulu Setty, Chairman, SBI; Prof. Devendra Jalihal, Director, IIT Guwahati; Vinay M Tonse, MD, SBI; and Atul Kumar Goyal, CEO, IBA, along with other distinguished guests.
 
The hackathon, focused on the theme, ‘Detecting Loan Defaulters and Tracking Them in the Digital Ecosystem’ was hosted by SBI, at IIT Guwahati. Over a span of 90 days, participating teams worked intensively on developing solutions and prototypes, showcasing the spirit of entrepreneurship and problem-solving.
 
M. Nagaraju, Secretary, DFS congratulated the winners and commended SBI-IIT Guwahati partnership for inspiring young innovators. Speaking at the event, he emphasised the goal of fostering entrepreneurial talent and collaboration between students and banks. Stressing upon the importance of continuous innovation, cybersecurity, and supporting startups to strengthen the financial sector, he envisioned India’s growth by 2047, emphasising on the vital role to be played by the financial sector. He thanked SBI and the organisers and encouraged students to aim higher and wished them success for future competitions.
 
CS Setty, Chairman, SBI, said, “SBI is proud to collaborate with the Department of Financial Services and IIT Guwahati in promoting fintech and startups. Our technological advancement such as YONO and UPI, along with incubation initiatives for MSME lending and cybersecurity, reflect our commitment to driving India’s tech and financial growth. Industry-academia collaboration is essential to build future-ready solutions, and initiatives like FINNOVATION are vital in fostering that ecosystem. I congratulate all the winners and urge them to continue innovating for India’s financial future”.
 
The event concluded with a strong message of encouragement to young innovators, reaffirming the role of hackathons like “FINNOVATION” in shaping India’s digital and financial future.