PRAVAAH Portal – RBI

PRAVAAH - Platform for Regulatory Application, Validation And AutHorisation

Shri Shaktikanta Das, Governor, Reserve Bank of India today launched three major initiatives of the Reserve Bank of India, namely the PRAVAAH portal, the Retail Direct Mobile App and a FinTech Repository.

PRAVAAH portal

The PRAVAAH portal will make it convenient for any individual or entity to apply online for various regulatory approvals in a seamless manner.

This portal will also enhance the efficiency of various processes related to granting of regulatory approvals and clearances by the Reserve Bank.

PRAVAAH’ (Platform for Regulatory Application, VAlidation and AutHorisation) portal

PRAVAAH is a secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made by it to the Reserve Bank. The following are some of the key features available in the portal.

iSubmit the application online on the portal;

iiTrack and Monitor the status of the application/reference;

iiiRespond to any clarification/query sought by the RBI in connection with the application/reference; and

ivReceive a decision from the Reserve Bank in a time bound manner.

Retail Direct Mobile App

The Retail Direct Mobile App will provide retail investors a seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs).

Mobile Application for RBI Retail Direct portal

The retail direct portal was launched in November 2021 to facilitate retail investors to open their Retail Direct Gilt accounts with the Reserve Bank of India (https://rbiretaildirect.org.in) under the Retail Direct Scheme. The scheme allows retail investors to buy G-Secs in the primary auctions as well as buy and sell G-Secs in the secondary market.

With the launch of the retail direct mobile app, retail investors can now transact in G-Secs using the mobile app on their smartphones.

FinTech Repository

The FinTech Repository aims to capture essential information about FinTech entities, their activities, technology uses, etc. FinTechs, both regulated and unregulated, are encouraged to contribute to the Repository accessible at the URL: https://fintechrepository.rbihub.in.

Simultaneously, a related repository for only RBI regulated entities (banks and NBFCs) on their adoption of emerging technologies (like AI, ML, Cloud Computing, DLT, Quantum, etc.), called EmTech Repository is also being launched and can be accessed at the URL: https://emtechrepository.rbihub.in.