The Reserve Bank of India (RBI) has announced an extension of the submission deadline for its third global hackathon, HaRBInger 2024. Originally set to close on July 19, 2024, the deadline has now been extended to July 31, 2024, allowing more time for participants to submit their innovative solutions, as stated in a press release dated 18th of July.
HaRBInger 2024, themed “Innovation for Transformation,” seeks to address critical challenges in the financial sector. The hackathon features two themes with four problem statements:
Zero Financial Frauds:
- Real-time prediction, detection, and prevention of frauds in financial transactions.
- Ensuring transaction anonymity in token-based (CBDC) transactions while maintaining system integrity.
- Identifying mule bank accounts/payment wallets.
Being Divyang Friendly:
- Accurately identifying banknotes by visually impaired individuals.
The hackathon is open to all entities, teams, and individuals (aged 18 and above) eligible to enter into a contractual agreement. While participants from all backgrounds and geographies are welcome, knowledge about the Indian financial services market and consumers is preferred.Participants can register and submit their proposals through the APIX platform. The detailed application process and registration link are available here: HaRBInger 2024 Registration.
The registration and submission of proposals period has been extended and will now take place till July 31, 2024.
The winners in each category of problem statements will receive a prize money of INR 40 lakh. Additionally, a special prize of INR 20 lakh will be awarded to the best ‘all-woman team’ across all problem statements. Furthermore, teams shortlisted for Solution Development (Phase III) will receive a stipend of INR 5 lakh to cover the cost of prototype development.
