RBI announced Pravaah Portal for easy regulatory approvals

Pravaah Portal

RBI (Reserve Bank of India) introduces the PRAVAAH Portal. The portal was launched to apply online for various regulatory approvals. The portal is meant for any person or organization will find it easy to apply online for a variety of regulatory approvals due to the PRAVAAH platform. Read the article below to know more about Platform for Regulatory Application, VAlidation and AutHorisation Portal.

What is Pravaah Portal ?

Pravaah or Platform for Regulatory Application, VAlidation and AutHorisation was introduced by RBI as part of its bi-monthly Statement on Development and Regulatory Policies in April 2023, December 2023, and April 2024. An entity can track and monitor the status on the portal, and RBI can provide a timely decision regarding a particular application. Additional application forms would be made available if needed.

RBI Udgam Portal

RBi Pravaah Portal Details in Highlights

Name of the schemePravaah Portal
Full formPlatform for Regulatory Application, VAlidation and AutHorisation
Launched byRBI
Launched on28th of May 2024
Modeonline
BeneficiariesAny person or organisation
BenefitTo apply online for a variety of regulatory approvals
Official Website Not Yet Launched

Objectives of Platform for Regulatory Application, VAlidation and AutHorisation Portal

By improving the efficiency of numerous processes related to the RBI’s granting of regulatory approvals and clearances, the PRAVAAH portal would make it easier for any individual or company to apply online for various regulatory approvals. The Platform for Regulatory Application, Validation, and Authorization (PRAVAAH) is a centralised, secure online site that allows any person or organisation to apply for a licence, authorization, or regulatory approval for every reference they make to the Reserve Bank.

Features of Pravaah Portal

Some of the key features of Platform for Regulatory Application, VAlidation and AutHorisation Portal are mentioned below:

  • Currently, the portal has 60 application forms covering the various regulatory and supervisory departments of the RBI.
  • In addition, a general-purpose form is provided so that applicants can submit requests that are not covered by any other application form.
  • As per Reserve Bank this portal will also improve the effectiveness of numerous procedures linked to issuing regulatory certifications and clearances.
  • The PRAVAAH portal is a centralised, secure web-based platform that allows any person or organisation to apply for a licence, authorization, or regulatory approval for every reference they make to the Reserve Bank.
  • The portal will increase the effectiveness of the regulatory clearance and approval procedures run by the RBI.

RBI Retail Direct Scheme

Eligibility Criteria for Pravaah Portal

Before applying on Platform for Regulatory Application, VAlidation and AutHorisation Portal, make sure you fulfill all the eligibility criteria mentioned below:

  • Any person or organisation can easily apply online for a variety of regulatory approvals.

Application Process of Pravaah Portal

The government has not notified the official website for Pravaah Portal yet. All the eligible applicants can visit the official website and fill the form there once the government announces its official website.

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