Reserve Bank announces second global hackathon, winner to get Rs 40 lakh

The Reserve Bank on Tuesday announced its second global hackathon -- 'HARBINGER 2023 - Innovation for Transformation' with the theme 'Inclusive Digital Services'

RBI
Photo: Bloomberg
Press Trust of India Mumbai
2 min read Last Updated : Feb 14 2023 | 9:34 PM IST

The Reserve Bank on Tuesday announced its second global hackathon -- 'HARBINGER 2023 - Innovation for Transformation' with the theme 'Inclusive Digital Services'.

Fintechs have been invited to develop solutions that have the potential to make digital financial services accessible to the differently-abled, facilitate efficient compliance, extend the reach of Central Bank Digital Currencies and enhance the scalability of blockchains.

"Being part of HARBINGER 2023 gives an opportunity to the participants to get mentored by industry experts and exhibit their innovative solutions before an eminent jury and win exciting prizes in each category," the RBI said.

Registration for the hackathon starts from February 22, 2023.

The RBI has invited innovative ideas in four segments.

'Innovative, easy-to-use, digital banking services for differently-abled (Divyaang); RegTech solutions to facilitate more efficient compliance by Regulated Entities (REs)'; Exploring use cases/solutions for CBDC-Retail transactions, including transactions in offline mode'; and 'increasing Transactions Per Second (TPS)/ throughput and scalability of blockchains'.

Winner of the hackathon will be given a prize of Rs 40 lakh and runner-up Rs 20 lakh.

The first hackathon was announced in November 2021 and results were declared in June 2022.

It had received 363 proposals submitted by teams from within India and from 22 other countries including the US, UK, Sweden, Singapore, Philippines, and Israel.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Reserve Bank of IndiahackathonIndian banking sector

First Published: Feb 14 2023 | 9:34 PM IST

Next Story