Terms & Conditions
Thank you for visiting Bank of Maharashtra Finspark Hackathon – 2026 contest website. Kindly read these terms and conditions carefully before you register for participation in Bank of Maharashtra Finspark Hackathon – 2026 contest. By registering, you indicate that you accept the below terms and conditions.
Candidates are advised to register with active e-mail ID for receiving communication pertaining to the Hackathon. Any information can be communicated be sent by the BOM Team.
Any individual citizen of India who is above 18 years of age can participate in only 1 team (as part of a group or as an individual).
By participating in the event, the individual(s) agree to be bound by the applicable Terms & Conditions and represent that they satisfy all the eligibility requirements that have been set out.
The final version of documents / data as per cut-off dates of Phase 1 & Phase 2 will be treated as final submission from the participating individual / team. The final submission cannot be changed at a later juncture. Any such request received from any participant / team will not be entertained.
Any employee of Bank of Maharashtra will not be allowed to participate in this event.
The Bank takes no responsibility for any delay in receipt or loss of any communication.
Decisions of Bank of Maharashtra in all matters regarding eligibility, evaluation and selection would be final and binding on all the participants. No representation or correspondence will be entertained by the bank in this regard.
Participation in the event is purely voluntary and at the sole discretion of the individual(s) participating in the event. Bank of Maharashtra takes no responsibility for any cost incurred by the participants during the course of the event or for the event.
The applicant shall be liable for civil/ criminal consequences in case the information submitted in his/ her application are found to be false at a later stage.
Any legal proceedings in respect of any matter of claim or dispute arising out of this Hackathon and/ or an application in response thereto can be instituted only in Pune and courts/ tribunals/ forums at Pune only shall have sole and exclusive jurisdiction to try any cause/ dispute.
Bank of Maharashtra reserves the right to cancel the hackathon process entirely at any stage.
Bank of Maharashtra has the right to not declare any winners in case no suitable submission is received.
Bank of Maharashtra at its discretion may approach any of the participating teams for conducting a Proof of Concept/deploying the solution (submitted during the Hackathon) on Bank's infrastructure. However, a separate agreement will be negotiated with the team concerned in this regard.
The prize money will be sponsored by Bank of Maharashtra.
Prize Pool, Winner Benefits and Showcase Opportunities
Prize pool, winner benefits, showcase opportunities, certificates, recognition, mentoring support, finalist benefits and related programme elements are subject to final programme terms, eligibility criteria, jury decisions and organiser discretion. Bank of Maharashtra and/or the organisers reserve the right to modify, defer, withhold, substitute or cancel any benefit, recognition, showcase opportunity or programme element at any stage, in accordance with applicable rules and approvals.
Global FinTech Fest Showcase
Any opportunity to showcase at Global FinTech Fest 2026, if applicable, shall be subject to final eligibility, approvals, event rules, availability, jury decisions and organiser discretion.
Participant Acknowledgement
By registering for FinSpark Hackathon 2026, participants acknowledge that they have read and understood the applicable terms, privacy policy, eligibility requirements, submission guidelines, evaluation criteria and disclaimers published by the organisers, and agree to comply with the same.
Hackathon Rules
The Hackathon is to be organized in 2 phases:
- Phase 1 — Idea Submission Phase
- Phase 2 — Prototype Phase
Participants are required to register first, as a team on the https://www.finsparkhackathon.com/ website.
Team size can be from 1 (min.) up to 4 (max.) members.
Participating individual / group can register for only one theme.
Any individual can participate in only 1 team or at an individual level only. Any deviation will lead to disqualification of all teams that the individual participates in.
You cannot add/delete team members after the idea submission round ends.
It's an online Hackathon, you can participate from anywhere in India only.
There are 2 problem statements. To participate, you must submit a hack in only one of them.
Once the Hackathon starts, you will get an option to submit your hack. You can submit as many times as you want, the last hack will be considered as the final submission.
After evaluation of Phase 1 Idea, selected teams will be invited to continue their participation for Phase 2 Prototype development.
Teams need to mention all the APIs you will be using while submitting your idea.
You must use Open-Source Tools & Applications for this Hackathon. You can also use other tools like Visual Studio, Powerapps, GitHub etc. You may use open source libraries and other freely available systems. An undertaking in this regard would be obtained from the team.
Teams, however, are free to use APIs that have been developed by themselves.
Teams shortlisted for Phase 2 will be required to submit:
- Developed Prototype
- Demonstration Video
- Sample Data that was presented in the Video
- Documentation
Top 20 Teams will be called to present a live demonstration before the evaluation committee in Pune.
The intellectual property of your code belongs only to you or your team.
All teams are free to innovate and go beyond provided pointers. Participants are encouraged to explore more alternatives / enhance the idea for better implementation.
The teams shall not demonstrate any existing solution or collaborate with companies that have existing solution. Such hacks, disqualified. An undertaking towards the same will have to be provided by the team.
The Prototype designed/developed should not violate/breach/copy any copyrighted, patented or existing solution available in the market. Noncompliance, will lead to disqualification from the hackathon.
Intellectual Property (IP) and Ownership
The ownership of intellectual property (IP) for individual prototypes will lie with the entity that developed the solution. However, the banking sector and DFS may collaborate with the solution developers for potential commercialization or deployment of the solution.
IP Ownership:
The banks will retain the rights to any IP specifically related to their business, while any open source or generalizable solutions may be used by the respective institutions under the terms agreed upon by the participating teams.
Prize Distribution
Prize money shall be awarded in three instalments to ensure sustained involvement of students, institutes, and banks throughout the lifecycle of product development.
| Instalment | Details | Amount % |
|---|---|---|
| 1 | On the day of grand finale | 50% |
| 2 | On the day/After completion of Global FinTech Fest | 30% |
| 3 | Upon successful completion of the product development | 20% |
Participants may get a potential opportunity to explore a commercial relationship with Bank.
Note
*Prize pool, winner benefits, showcase opportunities and related programme elements are subject to final programme terms, eligibility criteria, jury decisions and organiser discretion. Participants are advised to read all applicable Terms & Conditions before registering and before making any submission.
Travel Reimbursement and Local Conveyance for Finalist Teams
The Bank may provide travel reimbursement and local conveyance support to eligible participants from the Top 20 finalist teams travelling to Pune for attending the Grand Finale at COEP Technological University, Pune.
Railway Travel Reimbursement
The Bank may reimburse railway travel expenses for eligible finalist participants, limited to 3rd AC train fare, subject to the following maximum caps:
- One-way travel, Up to ₹2,000 per participant
- To-and-fro travel, Up to ₹4,000 per participant
The reimbursement shall be made on an actual basis or as per the prescribed ceiling, whichever is lower, subject to submission of valid tickets, journey proof and any other documents required by the Bank / organisers.
This capped reimbursement mechanism is intended to ensure that travel support remains economical, uniform and financially controlled for all selected finalist teams.
Local Conveyance Support
In addition to railway travel reimbursement, the Bank may provide local conveyance support of up to ₹1,000 per participant during the Grand Finale at Pune.
This amount may be considered towards local travel and incidental movement of participants for attending the hackathon finale and related activities at COEP Technological University, Pune.
Overall Reimbursement Limit
Overall, each eligible participant travelling to Pune for the Grand Finale may be reimbursed up to ₹5,000, inclusive of:
- To-and-fro railway travel reimbursement, capped at ₹4,000 per participant
- Local conveyance support, capped at ₹1,000 per participant
All reimbursements shall be subject to final programme terms, eligibility criteria, submission of valid supporting documents, approval by the Bank / organisers and applicable internal policies.