The Reserve Bank on February 14 announced its second global hackathon called ‘Harbinger 2023 – Innovation for Transformation’ with the theme of ‘Inclusive Digital Services’.
Key points
- The RBI has invited fintechs from all over the world 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.
- 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’.
- The winner of the hackathon will be given a prize of ₹40 lakh and runner-up ₹20 lakh.
- The first hackathon was announced in November 2021 and results were declared in June 2022.
