IOB partners RMK Group to host PAN-India cybersecurity hackathon

New Delhi: Indian Overseas Bank (IOB) has signed a Memorandum of Understanding (MoU) with RMK Group of Institutions to organise a PAN-India cybersecurity hackathon aimed at fostering innovation and technological advancement in the banking and financial services sector.

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The initiative aligns with the broader vision of the Ministry of Finance’s Department of Financial Services and the Indian Banks’ Association to promote entrepreneurship and accelerate digital transformation in banking across the country.

The hackathon will address key problem statements in areas such as financial inclusion, digital banking and banking solutions for specially abled individuals. It will invite students from institutions across India to develop innovative prototype solutions to real-world challenges in the financial ecosystem.

Under the partnership, RMK Group of Institutions will act as the anchor institution, providing academic support and facilitating participation from students nationwide.

The competition will run over several months, allowing participating teams to refine their ideas with mentorship from academic experts. The event is expected to conclude in May 2026, with winning prototypes demonstrating strong potential for implementation and entrepreneurial application. Selected participants will also get an opportunity to showcase their innovations at the Global Fintech Festival 2026.

Commenting on the initiative, MD & CEO Ajay Kumar Srivastava said that IOB remains committed to nurturing young talent and leveraging technology to build innovative banking solutions. He added that the hackathon reflects the bank’s focus on digital transformation and skill development in the fintech space.

Srivastava further noted that the MoU would strengthen collaboration between academia and the banking sector, fostering innovation, enhancing the digital ecosystem and enabling students to contribute meaningfully to the future of banking while promoting inclusive growth.

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