With a view to providing a platform to encourage, recognise and promote innovations and ideas in the payment and settlement systems arena, the Reserve Bank of India will organise the following contests: (i) ‘Payment and Settlement Systems Innovation Contest’ for individuals, groups, entrepreneurs, companies, start-ups and similar entities; (ii) ‘Payment and Settlement Systems Innovative Ideas Competition’ for students of recognised institutions at the undergraduate or above levels. The broad areas of innovation considered for the contest / competition illustratively are – | Offline payments | Automated online dispute redressal systems | Safety and security in payment systems | | Payment options for feature phone users | Simple and easy Know Your Customer (KYC) | Payment systems data analytics | | Cross border remittances | Next-gen payment modes | Instrument-less payment systems | | Innovative confirmation modes for payment transactions | Automated payment processing | Innovative settlement modes | The contest / competition will be organised through Institute for Development and Research in Banking Technology (IDRBT), Hyderabad. (For details please see link- https://www.idrbt.ac.in/cfp_psic.html). Shortlisted participants will get an opportunity to present their ideas before a jury of eminent persons. Outstanding innovators will be awarded prizes and citations. Ajit Prasad
Director Press Release : 2019-2020/818 | |