Prime Minister Narendra Modi on Sunday extended his congratulations to the Reserve Bank of India (RBI) for winning the prestigious Digital Transformation Award 2025 by Central Banking, London.
PM Modi shared his appreciation on social media platform X, quoting RBI’s announcement and calling the achievement a significant milestone. He highlighted the role of digital innovation in strengthening India’s digital ecosystem and empowering millions of people across the country.
“A commendable accomplishment, reflecting a commitment to innovation and efficiency in governance,” PM Modi stated in his post. He further added, “Digital innovation continues to strengthen India’s financial ecosystem, thereby empowering countless lives.”
The RBI was honored for its groundbreaking digital initiatives, Saarathi and Pravaah, both of which were developed by the bank’s in-house tech team. These initiatives have transformed RBI’s internal and external processes, significantly reducing the need for paper-based submissions.
Saarathi, launched in January 2023, has fully digitized RBI’s internal workflow, allowing employees to securely submit and share documents. The system has improved record management, data analysis, task tracking, collaboration, and integration with other RBI systems. Prior to Saarathi, different departments relied on a mix of manual and digital processes, but the platform now serves as a unified digital repository for all the central bank’s information.
Pravaah, introduced in May 2024, is a digital platform for external users to submit regulatory applications to RBI. The documents submitted through Pravaah are automatically linked to the Saarathi database, where they are processed digitally using centralized cybersecurity systems and digital tracking.
Since its launch, Pravaah has digitized over 70 regulatory applications, benefiting nine departments within the RBI.
-IANS
