IIT Delhi and Roinet Partner to Advance AI-Driven Financial Solutions
Roinet has signed an MoU with IIT Delhi to develop AI-powered solutions aimed at enhancing financial inclusion.
IIT Delhi and Roinet Partner to Advance AI-Driven Financial Solutions
The Foundation for Innovation and Technology Transfer at IIT Delhi has entered into a three-year Memorandum of Understanding (MoU) with Roinet to collaborate on the development and implementation of AI and ML-powered solutions. This strategic partnership aims to enhance financial access for underserved communities and small businesses by leveraging cutting-edge technology to bridge existing gaps in financial services. Through this collaboration, IIT Delhi and Roinet will work together to create innovative, data-driven solutions that promote financial inclusion and empower individuals and enterprises with improved access to essential financial resources.
Leveraging IIT Delhi’s expertise in artificial intelligence and machine learning, Roinet will develop and implement AI-driven innovations to enhance financial accessibility. These include an advanced underwriting engine for lending, an intelligent travel and ticketing platform, an AI-powered grievance redressal chatbot, and a sophisticated audio/video calling platform. By addressing critical barriers in financial services, these solutions will ensure seamless, efficient, and inclusive service delivery for end users.
Sameer Mathur, founder and Managing Director of Roinet, said, "At Roinet, we are committed to leveraging technology to bridge financial and digital divides. Partnering with IIT Delhi enables us to co-create AI-driven solutions that address the unique needs of underserved communities, empowering them with better financial access. By combining our industry insights with IIT Delhi’s research excellence, we aim to drive tangible impact where it matters most."
Nikhil Aggarwal, Managing Director of the Foundation for Innovation and Technology Transfer at IIT Delhi, added, "This collaboration with Roinet allows us to apply cutting-edge AI and ML research to real-world financial inclusion challenges. Our researchers and students will work on transformative solutions that have the potential to reshape the landscape of accessible financial services. This partnership strengthens the industry-academia ecosystem, fosters meaningful innovation, and prepares future technologists to address pressing societal issues."
To drive these research initiatives, Roinet will contribute to product conceptualization, infrastructure, financial support, and go-to-market strategies, facilitating a seamless transition from research to real-world deployment. Additionally, students involved in these projects will benefit from stipends, mentorship, and potential long-term career opportunities, further strengthening industry-academia collaboration. All innovations developed through this partnership will be co-owned by IIT Delhi and Roinet, underscoring their shared commitment to advancing deep-tech solutions in financial services.
The course outline of mechanical in IIT Delhi or IIT Bombay is similar and is quite well aligned with the course structure of top ranked international universities and the mechanical is one of the most desired and demanded branches in the IITs. The universities stand on similar QS ranking level and the facility and quality of infrastructure on average is almost the same in both the campuses, IITB has a lake, a pretty larger campus than that of IITD whereas IITD stands in a very desired location of Delhi ( in Hauz Khas) which stands very close to the international airport and various railway stations and is comparatively very green and clean than the outer Delhi. The trends of placement or students going for further studies differ very less and if you are really relying on placements to be a deciding factor, you'll still be in doubt. If we look at the opening and closing ranks of the department in both the colleges, the mechanical in IITB opens before it starts at IITD and also closes some numbers before, but the range is quite same. Many people choose IITB for its past trend or some local variables and similarly people also choose IITD if they aspire to go for civil services as Delhi is the hub for the preparation for UPSC and other civil services and again the accessibility of the nearby regions. I'd say both of the campus stand on the same level if the department is considered, the selection is totally depend on the individual depending on the local variables that affects him/her.
Both the Indian Institutes of Technology are well-ranked. Given below are the comparison between the two IITs for their MSc course based on parameters including fee, ranking and eligibility criteria:
MSc Institutes |
NIRF Rank '23 (Overall) |
MSc Total Tuition Fee |
MSc Eligibility |
|---|---|---|---|
IIT Delhi |
03 |
INR 40,000 - INR 4 lakh |
Bachelor’s degree in a relevant Science discipline with a minimum 55% aggregate |
IIT Madras |
01 |
INR 20,000 - INR 10 lakh |
Bachelor’s degree in a relevant Science discipline |
NOTE: The fee mentioned here is taken from an unofficial source. Hence, is indicative.
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IIT Delhi has been ranked better than IIT Kanpur. Candidates can also look at the ROI calculated based on fee and average package offered to take a decision. The following table presents a comparison between the two institutes:
MTech Institutes
NIRF Ranking 2023
Total Tuition Fee
IIT Delhi
2
INR 3 Lacs - INR 8.7 lakh
IIT Kanpur
4
INR 20,000 - INR 8 lakh
NOTE: The fee mentioned above is taken from an unofficial source. Hence, is indicative.