The Reserve Bank of India (RBI) is organising its first global hackathon 'HARBINGER 2021' with the theme 'Smarter Digital Payments' to further improve India's fledging digital payment systems.
The hackathon aims to identify and enable solutions and/or business models that have the potential to make digital payments accessible to the underprivileged section, enhancing the ease of payments, enriching the experience of the users while strengthening the security of digital payments, and protecting the consumers.
The registration and submission of the proposal will start today, November 15, 2021, and will end on December 15, 2021. There are four problem statements in the payment and settlement landscape.
Winners in each category of problem statements will get Rs 40 lakh as prize money. The runner-up will get Rs 20 lakh in each category.
Who Can Apply?
enter into a contractual agreement
Participants can be from any background and geography, even though knowledge about the Indian payment systems market and consumers is preferred.
How to Apply?
The application has to be submitted through the official link. The Hackathon win run in two phases — Ideation in the first phase and Solution Development in the second phase.