RBI Unveils Pravaah Portal

RBI Unveils Pravaah Portal

Sub: Economy

Sec: Monetary Policy

Tags: PRAVAAH

The PRAVAAH (Platform for Regulatory Application, Validation, and Authorisation) portal is a secure, centralized web-based platform designed for individuals and entities to apply for various regulatory approvals from the RBI online. This portal aims to simplify and expedite the process of seeking authorizations, licenses, and other regulatory approvals by offering a single point of contact for applicants.

Key benefits of the PRAVAAH portal include:

• Online Application: Enables online submission of applications for regulatory approvals.
• User Convenience: Designed to make the approval process more accessible and less cumbersome.
• Streamlined Process: Facilitates a more efficient approval and clearance process by the RBI.
• Centralized Access: Provides a single, secure platform for all regulatory application needs.

Retail Direct Mobile App

The Retail Direct Mobile App is designed to make it easier for retail investors to access and transact on the Retail Direct platform for government securities (G-Secs). The app offers several functionalities aimed at increasing retail investor participation in the G-Secs market, including:

Account Management: Enables retail investors to open Retail Direct Gilt accounts with the RBI.

Primary Auctions: Allows participation in primary auctions for G-Secs.

Secondary Market Transactions: Facilitates buying and selling of G-Secs in the secondary market.

User Accessibility: Available for download on both the Play Store (Android) and the App Store (iOS), ensuring broad accessibility.

FinTech Repository

The FinTech Repository is a comprehensive database that contains detailed information on the Indian fintech sector. This repository serves multiple purposes:

Regulatory Insight: Provides a better understanding of the fintech sector from a regulatory perspective.

Policy Design: Aids in the design of appropriate regulatory policies by the RBI.

Sector Information: Includes data on fintech companies, their products and services, and the applicable regulatory frameworks.

EmTech Repository

In addition to the FinTech Repository, the RBI has launched the EmTech Repository for entities regulated by the RBI, such as banks and non-banking financial companies (NBFCs). This repository focuses on the adoption of emerging technologies by these entities and includes information on:

• Artificial Intelligence (AI)
• Machine Learning (ML)
• Cloud Computing
• Distributed Ledger Technology (DLT)
• Quantum Computing