IndiaFinBench: An Evaluation Benchmark for Large Language Model Performance on Indian Financial Regulatory Text

India is a vast nation of over 1.4 billion people, varied by hundreds of diverse and locally specific traditions and cultures and 22 officially recognized languages. Large language models (LLMs) are now being deployed on a massive scale throughout the mainland as well as in remote villages. However, the common benchmarks - MMLU, BIG-Bench, and TruthfulQA are almost exclusively English- and Western-centric. They do not identify those safety, fairness, and accuracy failures unique to the Indian context. That is the gap Inspect India Evals seeks to fill. It is an open-source framework built on top of UK AISI's Inspect AI platform. It has six benchmarks: Multilingual MMLU across sixteen Indian languages, BharatBBQ (our adaptation of BBQ for Indian social bias), a safety evaluation for Digital Public Infrastructure, a multilingual safety test using harmful prompts in Indian languages, a multi-turn jailbreak resistance test, and an Indian cultural knowledge benchmark scored using LLM-as-judge rubrics. In this study, we tested five open-weight models ranging from 8B to 32B parameters. Sarvam-M 24B and Gemma 2 27B came out on top, both scoring 80% on the composite India Fairness Index, with Sarvam-M even beating larger 32B models on Indian cultural knowledge and DPI safety compliance. All models scored 100% refusal on Multilingual Safety, whereas DPI safety varied from 20% to 100%. The framework is public. It's built to work with the UK AISI registry. Anyone can reproduce or extend this work.

Large language models (LLMs) are increasingly being applied to financial analysis, reporting, investment decision support, risk management, compliance, and professional training. However, robust evaluation of their domain competence in finance remains incomplete. Widely used open benchmarks such as FinQA, ConvFinQA, and TAT-QA have played an important role in advancing financial question answering and numerical reasoning, but they focus primarily on question answering over financial reports and do not provide an explicit hierarchy of professional difficulty. Broader resources, including FinanceBench, PIXIU, FinBen, and FLaME, expand the coverage of financial tasks, yet the problem of evaluating the transition from foundational knowledge to expert-level financial reasoning remains open. In this work, we present FINESSE-Bench, a suite of eight specialized benchmarks comprising 3,993 questions for hierarchical evaluation of financial competencies in LLMs. FINESSE-Bench combines exam-oriented datasets inspired by professional certifications (CFA-like Levels 1-3, CMT-like Level 2, and CFTe-like Level 1), applied trading task collections, and a Russian-language olympiad benchmark. This design enables evaluation of domain breadth, performance degradation as difficulty increases, the ability to solve computational tasks, and model behavior in specialized financial domains. We also describe a unified evaluation protocol covering multiple-choice questions, numerical answers, and short open-ended responses, together with an automated scoring scheme for freeform answers based on the LLM-as-judge paradigm. FINESSE-Bench is intended both as a complement to existing open financial benchmarks and as a tool for more substantive evaluation of professionally relevant financial competencies in large language models.

Large language models are becoming increasingly significant in financial applications. Nevertheless, prevailing benchmarks are largely dependent on simulated or generic data, which leads to a significant gap between reported performance and actual efficacy in real-world scenarios. To tackle this challenge, we present BizFinBench.v2, the first integrated offline and online benchmark built upon authentic user query-response data from both Chinese and U.S. equity markets. It comprises 28,860 questions across eight offline and two online tasks. Experimental results show that GPT-5 achieves a mere 61.5% accuracy, still failing to meet the practical business requirement (84.8%). Among the evaluated commercial models, DeepSeek-R1 exhibits superior investment efficacy. Error analysis grounded in real financial practice reveals persistent limitations in existing models. By overcoming the constraints of prior benchmarks, BizFinBench.v2 provides a substantiated foundation for advancing LLM deployment in the financial sector. Our data and code are available at https://github.com/HiThink-Research/BizFinBench.v2.