The Reserve Bank of India (RBI) has been honored with the Digital Transformation Award 2025 by Central Banking, London , in recognition of its groundbreaking digital initiatives, Pravaah and Sarthi. Both platforms were developed by RBI’s in-house tech team, reflecting the bank’s commitment to innovation and operational efficiency. Launched in January 2023, Sarthi digitised RBI’s internal workflows, enabling secure document storage, enhanced record management, and advanced data analysis through custom dashboards and reports. This shift significantly reduced paper-based submissions and streamlined internal processes across departments. In May 2024, RBI introduced Pravaah, a digital portal allowing external users to submit regulatory applications online. The system seamlessly interlocks with the Sarthi database, allowing applications to be processed digitally at RBI offices with centralised cybersecurity and real-time monitoring. Pravaah has digitised more than 70 categories of regulatory applications since its introduction, receiving over 2,000 submissions by the end of 2024 an 80% boost in monthly applications, courtesy of the platform’s simplicity. The success of these initiatives was bolstered by the IT team’s collaborative approach. They worked closely with staff to understand their needs and appointed senior nodal officers to guide departments through the transition. This hands-on support ensured smooth adoption and optimised […]
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