RBI Wins Digital Transformation Award 2025 for Pravaah and Sarthi Initiatives

The Reserve Bank of India (RBI) has been honored with the Digital Transformation Award 2025 by Central Banking in London, UK. This significant accolade showcases RBI’s successful launch of its digital initiatives—Pravaah and Sarthi—developed by its dedicated IT team. These innovations have notably enhanced RBI’s internal workflow management and external regulatory processes, leading to improved operational efficiency and a decrease in paper-based submissions.

The Digital Initiatives of RBI

1. Sarthi: RBI’s Internal Digital Workflow System

Launched in January 2023, Sarthi was developed to streamline the RBI’s internal operations. It empowers employees to securely store and share documents, making record management and data analysis much more efficient with its advanced dashboards and reports.

Key Features of Sarthi:

• Elimination of paper-based processes: The system facilitates digital submission and storage, reducing paper dependency.
• Enhanced collaboration: Employees can share files securely across departments.
• Advanced analytics: Integration of dashboards and reports for better decision-making.
• Improved operational efficiency: Automation of processes streamlines task management and performance tracking.
• Unified database: Acts as a central repository for all documents, replacing fragmented manual and digital processes.

2. Pravaah: Digital Regulatory Application Portal

In May 2024, the RBI made a significant move in its digital transformation journey by introducing Pravaah. This new initiative is all about streamlining external regulatory applications, enabling users to submit their requests to the RBI digitally.

Key Features of Pravaah:

• Digitization of regulatory applications: So far, over 70 different regulatory applications have been digitized.
• Seamless integration with Sarthi: Documents submitted through Pravaah are processed within the Sarthi database.
• Centralized cybersecurity framework: Provides enhanced security and digital tracking.
• Mass adoption: By the end of 2024, over 2,000 applications had been filed through Pravaah.
• 80% increase in monthly applications: This significant rise is attributed to the system’s ease of use and efficiency.