RBI to Use PRAVAAH for Regulatory Applications from May 1

Mumbai, Apr 11 (PTI) RBI on Friday asked all applicants, including Regulated Entities (REs), to use the PRAVAAH platform for submitting applications for regulatory authorisations, licences, and approvals with effect from May 1, 2025.

In a statement, the Reserve Bank said it is committed to achieving end-to-end digitization of all internal workflows involved in regulatory approval processes to enhance efficiency, transparency, and timeliness in service delivery.

To this end, it had launched PRAVAAH (Platform for Regulatory Application, Validation And Authorisation) portal on May 28, 2024, to streamline online applications for regulatory authorisations, licenses, and approvals ensuring seamless, secure and faster delivery of services in a transparent manner.

"With effect from May 01, 2025, all applicants, including Regulated Entities (REs), are advised to use PRAVAAH for submitting applications for regulatory authorisations, licenses, and approvals to the Reserve Bank using the application forms already available in the portal," RBI said.

Applications for which a specific form is not available can be submitted using the general-purpose form, it said.

In exceptional cases, where members of the public are unable to submit their applications through PRAVAAH system, they may submit their applications directly to the Reserve Bank as hitherto, the central bank added.

However, such applications will be processed through the PRAVAAH system and the applicants will be duly notified of the same.

Adoption of PRAVAAH has seen steady progress and has so far facilitated submission of more than 3,000 applications/requests.

The portal enables the submission of applications digitally and allows the applicant to monitor the status of the application through the portal itself via SMS and email.

So far, 108 forms are available for use in the portal and further, more forms will be added to the portal as the need arises.

It has a facility through which the applicant can submit additional information, or clarifications sought by the Reserve Bank.

The Reserve Bank also said it will communicate decisions through PRAVAAH in a time-bound manner.