CFAs: TIH IIT Bombay CHANAKYA Fellowship Program (India)

Deadline: 25-Dec-2025

The TIH IIT Bombay CHANAKYA Fellowship Program supports faculty-led student teams in developing innovative solutions in Cyber-Physical Systems (CPS). It provides financial support for undergraduate and postgraduate students to work on projects across AI, blockchain, fraud detection, virtual banking, and related domains. The program aims to cultivate skilled graduates who can become innovators, problem-solvers, and entrepreneurs in CPS.

Overview

The TIH Foundation in collaboration with IIT Bombay invites faculty-led student teams to participate in the CHANAKYA Fellowship Program, designed to train graduates in Cyber-Physical Systems (CPS). The program nurtures students to become future innovators and entrepreneurs by engaging them in real-world research projects across AI, blockchain, fraud detection, digital banking, insurance, and virtual banking solutions.

Focus Areas

The fellowship supports projects in areas including:

• Financial Technology and Fraud Detection: Real-time fraud detection, detection of synthetic identities and deepfakes, automated compliance, and regulatory reporting.

• AI & Data Analytics: Digitization and analysis of bank statements, intelligent risk assessment, credit scoring, AI-powered insurance underwriting, AI-driven collections, and recovery.

• Blockchain & Decentralized Systems: Blockchain-based QR systems for NBFC documents, payment verification, insurance claims validation, and decentralized identity solutions.

• Customer Experience & Virtual Banking: Virtual banking lounges in the metaverse, multilingual voice AI for banking, smart proposal builders for personalized financial products, wealth management with risk profiling, and insurance claim validation using images and VLM-based damage assessment.

Program Structure

• Faculty mentors propose projects and lead student teams from their institutes.

• Teams can comprise either undergraduate or postgraduate students, not mixed.

• Undergraduate students: Fellowship for up to 10 months

  • Monthly stipend: INR 10,000

  • Contingency/consumables: up to INR 20,000 per student

• Postgraduate students: Fellowship for up to 2 years

  • Monthly stipend: INR 12,400

  • Contingency/consumables: up to INR 50,000 per student per year

Eligibility Criteria

For Faculty Mentors

• Must be affiliated with a recognized institute and able to form a project team

• Can submit up to 2 separate projects, one per team

• Teams must consist solely of undergraduate or postgraduate students

For Undergraduate Students

• Completed first or second year of study

• Maintain minimum academic performance as defined by the program

• Must have ≥10 months remaining in their course

• Must not be receiving any other government-funded fellowship

For Postgraduate Students

• Enrolled in CPS or related disciplines

• Must meet all qualifying scores and criteria

• Cannot hold other government-funded fellowships during tenure

Financial Support

• Monthly stipends for students

• Contingency grants for research expenses, consumables, travel, and participation in academic events

• Stipends and contingency are disbursed per student per project

Application Process

1. Faculty mentors form student teams (either undergraduate or postgraduate)

2. Prepare a project proposal in the prescribed format

3. Submit proposal with the No Objection Certificate (NOC) from the institute

4. Each team is allowed one project submission; separate submissions required for multiple projects

5. Applications accepted only through the official fellowship form

Key Dates

• Application deadlines: To be announced by TIH IIT Bombay

• Project duration: Up to 10 months for undergraduates; up to 2 years for postgraduates

Tips for Applicants

• Ensure the team is cohesive and project objectives are clearly defined

• Align your project with AI, blockchain, CPS, and financial technology domains

• Include detailed budget for consumables and contingency expenses

• Obtain an official No Objection Certificate (NOC) from the institute before submission

• Prepare a strong mentorship plan for guidance and evaluation

FAQs

1. Who can apply for the CHANAKYA Fellowship?

Faculty members at Indian institutes can apply by forming student teams in undergraduate or postgraduate categories.

2. What areas of research are supported?

Projects in CPS, AI, blockchain, fraud detection, virtual banking, intelligent risk assessment, and AI-powered financial services.

3. How much funding do students receive?

• Undergraduates: INR 10,000/month + up to INR 20,000 contingency

• Postgraduates: INR 12,400/month + up to INR 50,000/year contingency

4. Can a team mix undergraduate and postgraduate students?

No, each project team must consist solely of either undergraduate or postgraduate students.

5. How many projects can a faculty mentor submit?

A mentor may submit up to two projects, each with a separate team.

6. Is prior experience in CPS required for students?

Students should be enrolled in relevant courses; practical skills and project interest in CPS/AI are important.

7. Where are applications submitted?

Applications must be submitted through the official TIH IIT Bombay CHANAKYA Fellowship portal with all required documents, including the NOC.

Conclusion

The TIH IIT Bombay CHANAKYA Fellowship cultivates skilled graduates in CPS by providing mentorship, funding, and hands-on experience in cutting-edge AI and technology projects. It empowers students to become innovators and problem-solvers, bridging academia and industry, and fostering solutions in finance, insurance, virtual banking, and decentralized systems.

For more information, visit TIH Foundation.