New Delhi [India], March 30 (ANI): The National Financial Reporting Authority (NFRA) has announced new measures aimed at enhancing transparency and accountability in financial reporting.
NFRA
and the Indian Institute of Technology (IIT) Kanpur co-organized an event together.
Hackathon
to motivate students to develop advanced solutions using
Large Language Models
(LLM) and
Generative AI
.
The objective of the
Hackathon
The aim was to make intricate financial statements more accessible and comprehensible, according to a statement released by the Ministry of Corporate Affairs on Sunday.
The task assigned was to convert financial information into compelling narratives for better-informed decision-making. During the hackathon, participants aimed to tackle this issue using Generative Artificial Intelligence (GenAI). Various teams explored innovative approaches to make financial reports more accessible and reveal valuable insights.
Students from different engineering schools across India took part in a hackathon organized at
IIT Kanpur
From March 28th and 29th, 2025.
The hackathon facilitated collaboration between academia, students, and regulators working together to tackle shared issues. During this event, participants deliberated on potential solutions, and mentors provided guidance to help students advance with their creative concepts.
The presentations from the teams during the hackathon highlighted how Generative AI could transform financial statement analysis by demystifying intricate financial ideas, streamlining data collection, and producing meaningful stories. With ongoing technological advancements, we anticipate greater usage of this technology in financial reports, which will result in improved efficiency, precision, and well-informed financial choices.
The winning teams came from VIT Vellore, MNNIT Allahabad, IIT Lucknow, and Rajiv Gandhi University of Knowledge Technologies, Nuzvid.
Hackathon
was evaluated by a joint panel of specialists from
IIT Kanpur
and
NFRA
.
Additionally, it’s worth mentioning that numerous victorious teams opt to share their innovations with the open-source community. This allows for additional enhancements and contributions, enabling broader development and accessibility for those who wish to utilize these solutions.
NFRA
is looking forward to more such chances to interact with the student body, the statement also noted. (ANI)
Provided by Syndigate Media Inc. (
Syndigate.info
).