‘PRAVAAH’ (Platform for Regulatory Application, Validation And Authorisation)

Need of PRAVAAH Portal

  • Various entities are required to obtain licence / authorization to carry out activities regulated by RBI. Further, regulated entities are required to seek certain regulatory approvals from RBI under various statutes / regulations periodically. 
  • Currently, the application and approval processes for the same take place in varied on-line and off-line modes. 
  • The Union Budget for 2023-24 has announced the need to simplify, ease and reduce cost of compliance by financial sector regulators within laid down time limits to decide the applications under various regulations. 
  • It has been decided to develop a secured web based centralised portal named as ‘PRAVAAH’ which will gradually extend to all types of applications made to RBI across all functions.

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