If you want to win 40 lakh rupees then Reserve Bank of India (RBI) is giving you a great opportunity. In order to make digital payment even more secure, RBI is organizing Global Hackathon (1st Global Hackathon) for the first time.
New Delhi: If you want to win 40 lakh rupees, then Reserve Bank of India (RBI) is giving you a great opportunity. In order to make digital payment even more secure, RBI is organizing Global Hackathon (1st Global Hackathon) for the first time. Through this Global Hackathon, you can win 40 lakhs.
What did RBI say?
According to RBI, the registration for this hackathon named ‘HARBINGER 2021’ will start from November 15. The Reserve Bank of India (RBI) on Tuesday announced its first global hackathon ‘HARBINGER 2021-Innovation for Transformation’ with the theme ‘Smarter Digital Payments’.
RBI announced
Announcing this hackathon, RBI said that the theme of this hackathon is to make digital payments more agile and efficient, so that further improvements can be made in it.
You have to do this work to win money
RBI said that the contestants participating in this competition will get a chance to seek the guidance of industry experts and showcase their innovative solutions. There will be a jury of judges who will select the winners of each category.
They will get a reward of Rs 40 lakh
Being a part of Harbinger 2021 will give participants an opportunity to seek guidance from industry experts and showcase their innovative solutions, RBI said in a statement. A jury will select the winners in each category. The first place winner will be given Rs 40 lakh, while the second place participant will get a reward of Rs 20 lakh.
Winners will be selected like this
- Find out new and easier ways to convert cash transactions to digital mode
- Focus on improving contactless retail payments
- Exploring other methods of authentication mechanism in digital payments
- Creating a Social Media Analysis Monitoring Tool to Detect Digital Payment Fraud and Fraud
Recorded increase in demand for cash
Let us tell you that due to the uncertainties due to the Kovid-19 epidemic, there has been an increase in the demand for cash across the world. Official figures point to a boom in digital payments through various modes including plastic cards, net banking and Unified Payments Interface (UPI). The UPI system of the National Payments Corporation of India (NPCI) is fast emerging as a major mode of payment in the country. UPI was launched in 2016 and through this the transactions are increasing month by month.
