HomeHackathonHaRBInger 2024: Reserve Bank of India's Third Global Hackathon

HaRBInger 2024: Reserve Bank of India’s Third Global Hackathon

HaRBInger 2024, RBI Hackathon, Reserve Bank of India, Global Hackathon, Innovation, Financial Fraud Prevention, Digital Tokens, Divyang Accessibility

Join HaRBInger 2024, the RBI’s global hackathon focusing on “Zero Financial Frauds” and “Being Divyang Friendly”. Innovate solutions using AI/ML, blockchain, and more to prevent financial frauds and enhance accessibility for the visually impaired in financial services. Winners stand to win INR 40 lakh per problem statement and INR 20 lakh for the best all-woman team. Register by July 19, 2024, and submit your proposals online. Visit the link to participate: https://app.apixplatform.com/h1/harbinger2024

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HaRBInger 2024 – RBI’s Third Global Hackathon

Introduction:

HaRBInger 2024, organized by the Reserve Bank of India (RBI), is a global hackathon aimed at fostering innovation to tackle challenges in the financial sector. Participants from diverse backgrounds collaborate to develop technology-driven solutions within specified problem statements.

About HaRBInger 2024:

Building on past successes, HaRBInger 2024 focuses on two themes with specific problem statements:

  1. Theme 1: Zero Financial Frauds
  2. Theme 2: Being Divyang Friendly

Problem Statements: Theme 1: Zero Financial Frauds

  1. Real-time prediction, detection, and prevention of frauds in financial transactions using alternate data sources
  2. Ensuring transaction anonymity in token-based (CBDC) transactions while maintaining financial system integrity
  3. Identifying mule bank accounts/payment wallets

Theme 2: Being Divyang Friendly 4. Accurately identifying banknotes by visually impaired

Who Can Apply:

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  • Eligibility: Individuals, teams, or entities (18 years and above) capable of entering into contractual agreements.
  • Innovation Requirement: Solutions must demonstrate novelty and application of technology for the common good.

How to Apply:

  • Register and submit proposals through the HaRBInger 2024 platform.
  • Deadline: Registration and proposal submission open from June 7, 2024, to July 19, 2024.
  • Multiple problem statements can be addressed with unique solutions.

Phases of HaRBInger 2024:

  • Phase I: Screening of entries
  • Phase II: Shortlisting for Solution Development
  • Phase III: Solution Development
  • Phase IV: Evaluation and Selection of Winners

Prizes:

  • Category Winners: INR 40 lakh per problem statement category.
  • Special Prize: INR 20 lakh for the best ‘all woman team’ across all categories.
  • Stipend: INR 5 lakh for teams shortlisted in Phase III to cover prototype development costs.

Contact Information:

Join HaRBInger 2024 to contribute innovative solutions and compete for substantial prizes while addressing critical challenges in the financial and accessibility domains. For detailed information and to apply, visit HaRBInger 2024.

FAQ HaRBInger 2024: Frequently Asked Questions

What is HaRBInger 2024?

HaRBInger 2024 is the third edition of the Reserve Bank of India’s global hackathon aimed at fostering innovation in financial technology. It invites participants to develop solutions for specified problem statements related to financial fraud prevention and accessibility for visually impaired individuals.

What are the themes and problem statements for HaRBInger 2024?

Theme 1: Zero Financial Frauds Real-time prediction, detection, and prevention of financial frauds.
Ensuring transaction anonymity in token-based transactions.
Identifying mule bank accounts/payment wallets.
Theme 2: Being Divyang Friendly Accurately identifying banknotes by visually impaired individuals.

Who can participate in HaRBInger 2024?

Individuals, teams, and entities above the age of eighteen who can enter into a contractual agreement are eligible to apply. Participants should focus on innovative solutions or applications of technology that serve the common good.

How can I apply for HaRBInger 2024?

Interested participants need to register and submit their proposals online through the Application Programming Interface Exchange (APIX) platform. Registration and submission are open from June 7, 2024, to July 19, 2024. Here is the registration link: HaRBInger 2024 Registration

What are the phases of HaRBInger 2024?

Phase I: Screening of entries
Phase II: Shortlisting of entries for Solution Development
Phase III: Solution Development
Phase IV: Evaluation and selection of winners

What are the prizes for HaRBInger 2024?

Winners in each problem statement category will receive a prize of INR 40 lakh. Additionally, there is a special prize of INR 20 lakh for the best ‘all woman team’ across all categories. Teams shortlisted for Phase III will receive a stipend of INR 5 lakh for prototype development.

Where can I find more information about HaRBInger 2024?

For queries related to HaRBInger 2024, you can email harbinger2024@rbi.org.in. For technical support during registration or proposal submission, contact support@apixplatform.com.

What are the evaluation criteria for selecting winners?

Winners will be selected based on criteria including understanding of the problem, innovation, solution comprehensiveness, ease of implementation, and demonstration/user experience during the finals.

What is the goal of HaRBInger 2024?

The goal is to develop innovative solutions that address challenges in financial fraud prevention and improve accessibility for visually impaired individuals in the digital finance landscape, aligning with RBI’s commitment to responsible innovation and inclusivity.

Who can apply?

Anyone – Individuals (eighteen years and above) and enterprises (including startups) from all geographies are welcome to apply under this global challenge. It is especially suited for enterprises (including startups) with ready solutions that can be piloted with limited additional development and integration efforts.

How many problem statements can I apply for?

You may apply for more than one category if you fulfil all the criteria set out in each category.

Does my solution need to focus exclusively on one problem statement?

No, your solution can aim to address the needs covered by more than one problem statement. We are looking at the uniqueness of the proposition and feasibility of the business model alongside to achieve the desired goal.

Can I submit multiple entries?

You are not allowed to submit multiple entries under same problem statement. However you may submit entries under different problem statements.

What is the format of the event?

Applications will be received only through APIX platform. The Hackathon shall run in four phases with Screening of entries in the first phase, Shortlisting of entries for Solution Development in the second phase, Solution Development in Third Phase and Evaluation and Selection of winners in the Fourth Phase. RBI will shortlist the most promising ideas for the second phase wherein the participants will have to submit the working solution/running code/prototype, on APIX platform. Wherever needed, these solutions may be provided with mentoring, technical and regulatory support so that demo-able products can be created. The winners will be selected from the shortlisted products based on the product pitch and demo towards the end of the program.

Do I need to be a registered company to apply?

You need not be a registered firm for participation in the event.

How will the prize be disbursed?

The prize will be disbursed in Indian Rupees (₹) to the winners as per Reserve Bank of India policies and will be subject to tax deductions as applicable in India.

Will the information shared be kept confidential?

Information provided to us through the online application will be shared only on a need-to-know basis within the relevant event and evaluation teams. The information provided will be retained by us post the program for audit purposes and will not be shared without obtaining explicit permission from the applicant / authorized team member.

Can I request for re-evaluation in case I am not satisfied with the Judges’ decision?

No. Applicants cannot request for re-evaluation. The decision of the judges shall be final and binding. Reserve Bank of India reserves all rights with respect to the event.

Are the participants allowed to leverage their own Integrated Development Environments (IDEs)?

The participants can choose to develop the solution via APIX or use their own IDEs. But if they are using their own IDEs then they will have to bring the code, compile it, run it on APIX, and present the running code before the judges for evaluation.

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Important Note While Applying for Jobs:- Do read all the instructions and requirements carefully to apply for the job. All the communications from the organization will be on your registered Email ID. Keep Checking your Mailbox for the next round details once CV is shortlisted.

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Pratik Nagda
Pratik Nagdahttp://careerboostzone.com
My name is Pratik Nagda and I am a resident of the small town of Nallasopara in Maharashtra. I come from a very poor family and I live with my mom. My father was dead when I was in 4th grade. Due to that financial issue, I was forced to go to a hostel from the 5th to the 10th. I know the basics of blogging and all because in my final year of school, after that, when I came home, I had a great fight with my mom because she wanted to take me science and I wanted to take science. Finally, I convinced my mom. I have done engineering at St. John College of Engineering and Management, which is in Palghar. I still love my college very much. Even today, I keep sharing the experiences of my college with my readers. Today I am the owner of the CareerBoostZone English blogging site and through my blog, I have prepared a better employment platform for Readers I feel happy that I tried to empower readers by helping in employment and the development of the country. And my efforts are continuing towards success.
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