RBI’s Pravaah, Sarthi Platforms Digitise Operations, Enhance Transparency, Efficiency

The Reserve Bank of India (RBI) has been working towards building efficiency, transparency, and customer experience through technology innovation. Towards this purpose, it has launched two innovative platforms — Sarthi and Pravaah — with a goal to transform internal and external regulatory powers. These two innovations have not only transformed RBI’s operations, but also made it a trendsetter of digital transformation. 

Sarthi: Backbone for Internal Operations 

RBI introduced Sarthi in January 2023 as an internal digital workflow system. Sarthi was built by the central bank’s in-house IT team with the aim of improving the efficiency of operations, digitising communication, and minimising dependence on conventional paper-based systems.

Sarthi is also an end-to-end mechanism that carries out automated process of internal functioning, secure storage of documents, improved analysis of data, and improved handling of records. Every RBI department falls under one single umbrella in the system, and information flows freely.

With Sarthi, RBI employees can now create, manage, and archive documents securely online. Documentation has been drastically reduced, processed more quickly, and the RBI’s overall internal effectiveness has also increased. The simplicity of Sarthi’s interface and simplified features have also improved the user experience, streamlining things for employees at all levels. 

By automating day-to-day activities, such as file movement, approvals, and document upkeep, Sarthi has transformed the internal processes of RBI into efficient, transparent, and eco-friendly ones.

Pravaah: Simplifying External Regulatory Processes 

RBI subsequently followed up on the success of Sarthi by launching Pravaah in May 2024 to make external regulatory filings smoother. “Pravaah”, which means “smooth flow” in Hindi, captures the intent of the platform to enable smooth interaction of the external world with RBI. 

It is an online central gateway through which banks, companies, and others are able to make regulatory applications to the RBI. Pravaah handles over 70 regulatory filings for various financial activities. 

Prior to the launch of Pravaah, the regulatory filing process involved huge amount of paperwork, manual filing, and long lead times. The new system eliminates all these inefficiencies by way of a complete electronic procedure for submission and tracking of applications. 

Pravaah also seeks to bring in greater transparency and accountability to regulatory procedures. Submissions of applicants can be tracked in real-time, thereby eradicating ambiguities and enhancing communication. Since the process has been centralised, Pravaah has made it much simpler for the RBI to clear regulatory applications, thus speeding up approval and simplifying decision-making. 

One of the strongest points of Pravaah is that it is integrated with Sarthi as well. As soon as applications have been filed on Pravaah, they link up with the internal database of Sarthi as well. All this integration means that RBI staff can examine and process applications along with archiving applications under one digital umbrella, shortening delays and handling data better. 
 

Impact on RBI’s Operations 

The overall effect of Sarthi and Pravaah has been transformative. The internal and external regulatory procedures at RBI having been computerised, thus eliminating the need for voluminous paperwork.

These innovations have also helped the RBI to function better in the face of a shifting financial sector. With digital technology, the central bank is now able to improve its response to problems that have been taking place, becoming more responsive and efficient in keeping track of the nation's financial system. 

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