Rapid Fire
PRAVAAH Portal
- 30 May 2024
- 1 min read
Recently, the Reserve Bank of India (RBI) has launched 3 major initiatives:
- PRAVAAH (Platform for Regulatory Application, VAlidation and AutHorisation) Portal: A secure and centralised online platform (web-based portal) for individuals and entities to apply for various regulatory approvals from the RBI.
- This streamlines the process by offering a single point of contact and aims to improve the efficiency of RBI's regulatory approvals.
- Retail Direct Mobile App: Provides retail investors with convenient access to the Retail Direct platform for easy investment in government securities (G-Secs) directly from their smartphones.
- FinTech Repository: A web-based database containing comprehensive data on Indian FinTech firms, facilitating better understanding of the FinTech landscape for regulatory purposes.
- Additionally, the RBI launched the EmTech Repository, focusing on the adoption of emerging technologies (Artificial Intelligence, Machine Learning, Cloud Computing, etc.) by RBI-regulated entities like banks and NBFCs.
- Both FinTech and EmTech repositories are secure web applications managed by the RBIH (Reserve Bank Innovation Hub).
Read More: Reserve Bank of India, RBI Surplus Transfer to Government
