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RBI and Bank for International Settlements (BIS) launch G20 TechSprint

Published on May 05, 2023
Current Context: RBI and BIS have launched the fourth edition of the G20 TechSprint Initiative, a global technology competition to promote innovative solutions aimed at improving cross-border payments, under India’s G20 presidency.
RBI and Bank for International Settlements (BIS) launch G20 TechSprint
  • The competition is open for developers from around the world and will focus on three problem statements on cross-border payments. The results will be announced at a final event in August or September 2023.
  • The winners for each problem statement will receive an award of INR 40,00,000 (approximately US$ 50,000).

Question:

Q.1 What is the theme of the fourth edition of the G20 TechSprint Initiative launched by RBI and BIS?
a. Improving cross-border payments

b. Enhancing cyber security
c. Promoting financial inclusion
d. Developing digital currencies
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