Pravaah Portal: Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday announced the launch of three significant initiatives: the Pravaah portal, the Retail Direct Mobile App, and a FinTech Repository. These initiatives aim to streamline regulatory processes, enhance retail investor access to government securities, and improve regulatory insights into the FinTech sector.
RBI Governor Shaktikanta Das Unveils Three Major Initiatives
These initiatives were initially announced as part of the RBI’s bi-monthly Statement on Development and Regulatory Policies in April 2023, December 2023, and April 2024 respectively.
Pravaah Portal, Retail Direct Mobile App, and FinTech Repository
The Pravaah portal is designed to facilitate online applications for various regulatory approvals, making the process more efficient for individuals and entities. This portal is expected to enhance the efficiency of regulatory approval and clearance processes managed by the Reserve Bank.
The Retail Direct Mobile App will offer retail investors an easy and convenient way to access the retail direct platform, simplifying transactions in government securities (G-Secs).
The FinTech Repository will provide a comprehensive database of information on Indian FinTech firms, aiding in a better regulatory understanding of the sector and helping in the formulation of appropriate policy approaches.
These initiatives reflect the RBI’s commitment to leveraging technology to improve regulatory processes, investor access, and sectoral insights.
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