Which of the following banks was the organiser of the global hackathon, HARBINGER 2021 - Innovation for Transformation, with the theme 'Smarter Digital Payments'?

Correct option is A

The correct answer is (a) Reserve Bank of India.

• The Reserve Bank of India (RBI) organized its first global hackathon, HARBINGER 2021 – Innovation for Transformation, with the theme 'Smarter Digital Payments'.
• The hackathon invited participants to develop solutions aimed at enhancing digital payment accessibility, user experience, and security.

Information Booster:

HARBINGER 2021 Objectives:

• Encourage innovative solutions to make digital payments more accessible to underserved populations.
• Enhance the ease and user experience of digital payments.
• Strengthen the security of digital transactions and promote customer protection.

Key Problem Statements Addressed:

• Innovative, easy-to-use, non-mobile digital payment solutions for converting small-ticket cash transactions to digital mode.
• Context-based retail payments to remove the physical act of payment.
• Alternate authentication mechanisms for digital payments.
• Social media analysis monitoring tools for detection of digital payment fraud and disruption.
• These initiatives aimed to foster a culture of innovation in the digital payment ecosystem and address existing challenges.

​HaRBInGer 2024 was a global hackathon by the Reserve Bank of India (RBI) to address financial challenges in June 2024. The hackathon focused on "Zero Financial Frauds" and "Being Divyang Friendly".​