The Reserve Bank of India (RBI) has made it mandatory for all regulated entities to use the PRAVAAH portal for submitting applications related to regulatory authorisations, licenses, and approvals starting May 1, 2025. The move is part of the central bank’s broader push towards digitization, transparency, and streamlined communication with regulated financial institutions.
In an official notification released on Monday, the RBI instructed all banks, Non-Banking Financial Companies (NBFCs), financial institutions, and other supervised entities to discontinue offline or alternate submission channels and switch entirely to the PRAVAAH platform. “With effect from May 01, 2025, Regulated Entities are advised to use PRAVAAH for submitting applications for regulatory authorisations, licenses, approvals to the Reserve Bank using the application forms already available in the portal,” the RBI said.
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PRAVAAH: A Digital Shift for Efficiency and Transparency
Launched on May 28, 2024, PRAVAAH—short for Platform for Regulatory Application, Validation and Authorization—is a secure, web-based system developed to centralize and simplify the submission and tracking of applications made to the RBI. Since its rollout, the portal has processed approximately 4,000 applications, demonstrating its capacity to serve as a unified regulatory interface.
However, the RBI noted that despite the availability of PRAVAAH, some regulated entities continued to use traditional and manual modes to seek approvals. To address this inconsistency and ensure standardization, the RBI has now made the use of the portal compulsory. The platform enables institutions to submit and track applications, download relevant forms, and access detailed user instructions. It includes a user manual, FAQs, and video tutorials to help entities navigate the platform effectively.
Wide Applicability Across Financial Sector Institutions
The directive applies across a broad range of entities supervised by the RBI, including:
Scheduled Commercial Banks (including Small Finance Banks, Regional Rural Banks, and Local Area Banks)
Urban Co-operative Banks, State Co-operative Banks, and Central Co-operative Banks
All-India Financial Institutions
Non-Banking Financial Companies (NBFCs), including Housing Finance Companies
Primary Dealers, Payment System Operators, and Credit Information Companies
By mandating PRAVAAH, the RBI aims to enhance regulatory oversight, reduce processing time, and minimize bureaucratic inefficiencies. The system offers applicants the ability to track the real-time status of submissions and ensures uniformity in application formats and procedures.
The RBI reiterated that all entities must adhere strictly to the new submission process and that further instructions and updates will continue to be posted on the PRAVAAH portal.