Context:
- Prime Minister Narendra Modi praised the Reserve Bank of India (RBI) for receiving the Digital Transformation Award 2025, presented by Central Banking in London.
- The recognition was for the RBI’s Pravaah (a smooth flow) and Sarthi (charioteer) digital initiatives developed by the bank’s in-house tech team.
- The initiatives have revolutionised internal and external processes through a significant reduction in paper-based submissions within the RBI.
- Central Banking emphasized that the initiatives have streamlined operations and improved efficiency.
About Sarthi and Pravaah
- The Sarthi system was launched in January 2023 to digitize all of RBI’s internal workflows.
- It enables employees to securely store and share documents, improving record management.
- The system has enhanced record management, data analysis, task tracking, collaboration, and integration with other RBI systems.
- In May 2024, the Pravaah system was introduced to allow external users to submit regulatory applications digitally.
- Pravaah seamlessly integrates with the Sarthi database for processing within RBI’s offices.
- The transition to a fully digital infrastructure, supported by centralized cybersecurity and digital tracking mechanisms, has improved transparency and efficiency.
- Sarthi has helped the RBI to boost operational efficiency by automating processes.
- It allows task and performance tracking, improved collaboration, and integration with other RBI systems.
Pravaah has digitized over 70 regulatory applications, supporting nine RBI departments.