Indian Institute of Technology Bombay
World-class centre of excellence in banking and financial markets research, education and training
Industry-defined. Academia-led. Action-focused.
India's premier innovation engine for Capital Markets: convening high-impact collaboration, delivering actionable research, and supplying future-ready talent to the global financial services industry.
"We don't guess problems. We convene them."
Research agendas defined by real-world friction points and commercial opportunities.
"From working papers to working prototypes."
Develop deployable prototypes, intellectual property (IP), and policy frameworks.
"Curriculum built on live challenges."
Academic programs integrated with live research projects.
"Deliver trained professionals, spin-off startups, and validated technology."
Self-sustaining model that fuels the next cycle of innovation.
The Centre will house all the required resources - expertise, data, analytical tools, software, use cases, simulations, etc. It will be the go-to place for any support in research, training, and policy formulation in the country.
The Centre will enter into collaborative agreements with similar entities in other geographies for mutual benefit - faculty and student exchange, joint conferences/workshops, joint research projects, joint academic programmes, etc.
The Centre will also encourage and promote startups in the emerging areas such as Fintech, AI/ML in Banking and Finance, Insuretech, Wealth Management, Regtech, Finance Apps, Financial Analytics, Blockchain, Digital Currency, etc.
Dean ACR, Convenor
IIT Bombay
Professor-in-Charge
IIT Bombay
Stern School of Business, NYU
MD, Milliman
CIO, Motilal Oswal
MD & CEO, National Stock Exchange
Chairman, Multi Commodity Exchange of India Lmited (MCX)
Former MD & CEO Kotak Mahindra Bank
Founder, NJ Group
Professor-in-Charge
Program Director
Department of Mathematics
Risk-sensitive Control, Mathematical Finance
IEOR
Machine Learning, Reinforcement Learning
IEOR
Game Theory, Stochastic Control
SOM
Financial Derivatives, Investment Management
Department of Economics
Financial and Monetary Economics
SOM
Time Series, AI/ML in Finance
Systems and Control
Game Theory, Stochastic Control
SOM
Entrepreneurial Finance, AI in Finance
Professor of Accounting and Finance
IIT Bombay
Associate Professor, Economic Development
IIT Bombay
Assistant Professor of Finance
IIT Bombay
We don't just publish papers; we build prototypes, frameworks, and policy tools.
Developing frameworks to synthesize text, audio, and market data for better forecasting.
Breaking language barriers in Indian finance with specialized Large Language Models.
Enhancing decision-making transparency in automated financial systems.
Coming Soon Initial focus on compliance tech (RegTech and SupTech).
Academic programs commencing soon
The Centre proposes to offer the UG minor in Financial Markets. The students are required to complete a minimum of 30 credits by choosing from the following list of courses to be eligible for the minor. The registration limit will be 40 for the courses proposed by the centre, and the (UG) students will be selected based on CGPA.
At least one of the following criteria must be met:
(i) Four year Bachelor degree
Four year Bachelor degree in Engineering/Technology, Science, Mathematics, Economics, Management, Statistics with 60% marks/6.5 CPI (55% marks/6.0 CPI for SC/ST) and at least two years work experience.
(ii) Masters degree
Masters degree in Management, Accounting, Finance, Economics, Financial Markets, Capital Markets, Banking, Insurance, Securities Markets, Mathematics, Statistics, Engineering/Technology (MBA/M.Tech./M.S./M.Sc./M.A./M.Com./M.Phil., etc.) or 2 year PG Diploma in Management from institutions / universities incorporated by an act of parliament or state legislature in India or other institutions declared to be deemed as University under Section 3 of the UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of Education, Government of India or AICTE or UGC or AIU or reputed foreign university with 60% marks/6.5 CPI (55% marks/ 6.0 CPI for SC/ST).
(iii) Executive MBA
Executive MBA of at least one year duration from IITs/IIMs or institutions / universities incorporated by an act of parliament or state legislature in India or other institutions declared to be deemed as University under Section 3 of the UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of Education, Government of India or AICTE or UGC or AIU or reputed foreign university with 60% marks/6.5 CPI (55% marks/ 6.0 CPI for SC/ST).
(iv) Professional qualification
CA with 60% marks/ 6.5 CPI (55% marks/ 6.0 CPI for SC/ST) in the preceding degree/Bachelors Degree (B.Sc./ B.Com./ BA/ BS/ BBA).
At least one of the following criteria must be met:
(i) Four year Bachelor degree
Four year Bachelor degree in Engineering/Technology, Science, Mathematics, Economics, Management, Statistics with 60% marks/6.5 CPI (55% marks/6.0 CPI for SC/ST) and at least two years work experience.
(ii) Masters degree
Masters degree in Management, Accounting, Finance, Economics, Financial Markets, Capital Markets, Banking, Insurance, Securities Markets, Mathematics, Statistics, Engineering/Technology (MBA/M.Tech./M.S./M.Sc./M.A./M.Com./ /M.Phil., etc.) or 2 year PG Diploma in Management from institutions / universities incorporated by an act of parliament or state legislature in India or other institutions declared to be deemed as University under Section 3 of the UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of Education, Government of India or AICTE or UGC or AIU or reputed foreign university with 60% marks/6.5 CPI (55% marks/ 6.0 CPI for SC/ST).
(iii) Executive MBA
Executive MBA of at least one year duration from IITs/IIMs or institutions / universities incorporated by an act of parliament or state legislature in India or other institutions declared to be deemed as University under Section 3 of the UGC Act, 1956, or possess an equivalent qualification recognized by the Ministry of Education, Government of India or AICTE or UGC or AIU or reputed foreign university with 60% marks/6.5 CPI (55% marks/ 6.0 CPI for SC/ST).
(iv) Valid GMAT
The candidate should have valid GMAT score
Candidates holding foreign passports (including persons with OCI or PIO cards) will be eligible to apply in this category.
For Ph.D. Application Form: http://www.ir.iitb.ac.in/?page_id=26
A research proposal (1000-1500 words) on a topic of interest instead of Statement of Purpose (SOP). It should contain:
Applications without research proposal will not be considered.
Note 1: The candidates with four year Bachelor degree should have valid CAT/GMAT/GATE/GRE score to be eligible for financial support.
Note 2: Criteria for awarding Teaching Assistantship, and application categories are as per the guidelines mentioned in A.6 of the Ph.D. admissions brochure.
The eligible candidates will be shortlisted based on their performance in the screening test comprising quantitative ability, data sufficiency, data interpretation, research aptitude. The final selection will be based on performance in the interview.
The candidates are required to complete a minimum of 52 credits over two or three semesters irrespective of their last qualification, and the confirmation of Ph.D. will be subject to satisfactory performance during course work.
The Centre proposes to offer the online PG Diploma in Financial Markets with evaluation in person. The candidates with a degree in any discipline are eligible to apply for admission. The students are required to complete a minimum of 36 credits.
| Type of Course | Credits | Details |
|---|---|---|
| 5 Core courses | 30 | Financial and Cost Accounting, Economics of Financial Markets, Corporate Finance, Investment Management, Financial Institutions and Markets |
| 3 Elective courses | 6 | Management of Banking and Financial Services, Security Analysis and Portfolio Management, Derivatives and Risk Management |
| Total credits | 36 | Five core courses, and one elective |
Real-time trading terminals
Low-latency strategy testing
Credit risk and service innovation
The research agenda of the Centre includes the following among others:
Financing of SMEs
Regulatory Framework for Microfinance Institutions (MFIs)
Need for and Success of Sector-Specific Financial Institutions such as SIDBI, NABARD, Post Office Savings Bank, etc.
Innovation versus Regulation in Financial Markets
Issues in regulation of banks, other financial institutions, and markets
Disruptive Technologies in Banking and Financial Markets, and the Lessons for Regulation
Sophisticated Models for Pricing of Derivatives
Algorithmic Finance – Algorithmic trading, AI/ML, optimal trading strategies, etc.
Fintech, Crypto assets, Digital Finance
Continuous Time Finance (CTF) – Applications of Deep Learning to CTF
Market Microstructure – Intra-day market modelling, impact of algorithmic trading on market stability and liquidity
Financial Stability and Systemic Risk – network models, contagion in financial markets, systemic risks in banking systems
Computational Finance – Monte-Carlo Methods, Martingale Methods, Portfolio Optimization, Credit Risk Modelling, Order Book Modelling
Use of AI/ML to predict asset prices, volatility, credit scoring models, fund management, insurance
Performance of AI powered mutual funds, use of AI/ML to improve the performance of hedge funds, Fraud detection and security of financial transactions
LLMs in Finance
Join our world-class team
Ph.D. with a first class or equivalent (at least 60% marks or 6.5 CPI on a scale of 10) at the preceding degree level in Financial Markets, Financial Economics, Finance, Banking, Insurance, Financial Analytics, Fintech, Application of AI/ML in Finance, etc.
Grade I: Minimum of three years post-Ph.D. teaching/research/professional experience of which at least one year should be post-doctoral research and/or teaching experience in a University/College/an Institute/industry.
Grade II: Candidates with less than three years post-doctoral experience.
Minimum of 3 papers in reputed journals, with at least 1 in B or higher-level journals as per ABDC ranking list or ABS level 2+ or equivalent.
Ph.D. with a first class or equivalent (at least 60% marks or 6.5 CPI on a scale of 10) at the preceding degree level in Financial Markets, Financial Economics, Finance, Banking, Insurance, Financial Analytics, Fintech, Application of AI/ML in Finance, etc.
Minimum of 6 years post-Ph.D. teaching/research/professional experience, with at least 3 years at Assistant Professor Grade I level or equivalent.
Minimum of 8 papers in reputed journals, with at least 4 in B or higher-level journals as per ABDC ranking list or ABS level 2+ or equivalent.
Should have taught MBA/Masters level courses and supervised at least one Ph.D. student.
Ph.D. with a first class or equivalent (at least 60% marks or 6.5 CPI on a scale of 10) at the preceding degree level in Financial Markets, Financial Economics, Finance, Banking, Insurance, Financial Analytics, Fintech, Application of AI/ML in Finance, etc.
Minimum of 10 years post-Ph.D. teaching/research/professional experience, with at least 4 years at Associate Professor level or equivalent.
Minimum of 12 papers in reputed journals, with at least 6 in B or higher-level journals as per ABDC ranking list or ABS level 2+ or equivalent.
Should have supervised at least two Ph.D. students who have graduated.
Fellow (IIM, Ahmedabad)
Professor-in-Charge
Motilal Oswal Centre for Capital Markets
Head, Shailesh J. Mehta School of Management
IIT Bombay, Powai, Mumbai – 400076
Program Director
Motilal Oswal Centre for Capital Markets
IIT Bombay, Powai, Mumbai – 400076