RBI Mandates PRAVAAH Portal for All Applications by 2025

The RBI has mandated the use of the PRAVAAH portal for all authorisation, license, and approval applications from May 1, 2025, to enhance transparency and efficiency. The secure portal centralizes application submissions, offering necessary forms and user support resources, streamlining the regulatory process for banks and financial entities.

In a significant move, the Reserve Bank of India (RBI) has announced that starting May 1, 2025, all applications for authorisations, licenses, and approvals must be submitted exclusively through its PRAVAAH portal. The directive applies to all banks, financial institutions, and other regulated entities, marking a shift towards greater digital integration.

The RBI launched the PRAVAAH portal on May 28, 2024, as a secure, web-based platform designed to centralize and streamline the submission process for regulatory permissions. Despite around 4,000 applications being processed through PRAVAAH, some entities continued using outdated methods. The new mandate aims to standardize and expedite application handling.

Entities affected by this mandate include Scheduled Commercial Banks, Urban and State Co-operative Banks, All-India Financial Institutions, and other non-banking institutions. PRAVAAH offers all necessary forms and comprehensive support resources, including FAQs and video tutorials, providing a more efficient and transparent application process.

(With inputs from agencies.)