State PCS

Edit Template
Edit Template

G20 TechSprint

the RBI and Bank for International Settlements (BIS) launched the G20 TechSprint. G20 TechSprint is a global technology competition...

Context: Recently, the RBI and Bank for International Settlements (BIS) launched the G20 TechSprint.

About G20 TechSprint:-

  • G20 TechSprint is a global technology competition. 
  • The fourth and 2023 TechSprint is a joint initiative between the BIS

Innovation Hub and the Reserve Bank of India.

  • It will focus on three problem statements on cross-border payments formulated by the RBI and the BIS Innovation Hub.
    • Technology solutions: to reduce illicit finance risk around anti-money laundering, countering the financing of terrorism and sanctions.
    • Foreign exchange and liquidity technology solutions: to enable settlement in emerging markets and developing economy currencies.
    • Technology solutions for multilateral cross-border central bank digital currency platforms.
  • The competition is open for developers around the world.
  • The shortlisted teams will be invited to develop their solutions over a six-week period.
  •  Each team will be eligible for a stipend of eight lakh rupees approximately 10,000 US dollars.
  • An independent panel of experts will select the most promising solution to each problem statement from the shortlisted solutions.
  • The winners for each problem statement will receive an award of forty lakh rupees approximately 50,000 US dollars.

Read Also: First Pharma Park

Recent Posts

    Demo Class/Enquiries

    blog form

    More Links
    What's New
    IAS NEXT is a topmost Coaching Institute offering guidance for Civil & Judicial services like UPSC, State PCS, PCS-J exams since more than 10 years.
    Contact Us
    Social Icon

    Copyright ©  C S NEXT EDUCATION. All Rights Reserved