RBI Wins Digital Transformation Award 2025 for Pravaah and Sarthi Initiatives

The Reserve Bank of India (RBI) has been awarded the Digital Transformation Award 2025 by Central Banking, London, UK. This prestigious recognition is a testament to RBI’s successful implementation of its digital initiatives—Pravaah and Sarthi—which were developed in-house by its IT team. These digital advancements have significantly improved RBI’s internal workflow management and external regulatory processes, thereby enhancing operational efficiency and reducing reliance on paper-based submissions.

The Digital Initiatives of RBI

1. Sarthi: RBI’s Internal Digital Workflow System

Launched in January 2023, Sarthi was designed to digitize RBI’s internal workflow. The system enables employees to securely store and share documents, improving record management and data analysis through 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, RBI took the second step in its digital transformation by launching Pravaah. This initiative focuses on external regulatory applications, allowing users to submit their requests digitally to RBI.

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.

Impact of RBI’s Digital Initiatives

1. Transformation of Internal and External Workflows

The introduction of Sarthi and Pravaah has revolutionized how RBI processes both internal workflows and external regulatory applications. The elimination of paper-based submissions has not only increased efficiency but also reduced manual errors and processing time.

2. Enhanced Cybersecurity and Monitoring

RBI’s cybersecurity team continuously monitors these digital platforms to detect any suspicious activities. The centralized security system ensures that all documents and transactions remain safe and traceable.

3. Increased Efficiency and Collaboration

The IT team’s collaborative approach played a significant role in the successful implementation of these digital solutions. The team engaged extensively with RBI staff to understand their needs before building Sarthi. Additionally, senior nodal officers from each department were appointed to facilitate a smooth transition to the digital system.

Summary of the News