Modi's Digital Delight: PM Cheers as RBI Bags Global Tech Trophy

Reserve Bank of India (RBI) was awarded the Digital Transformation Award 2025 by London-based Central Banking. The award was welcomed by Prime Minister Narendra Modi, who called it a testimonial to innovation and effective governance. RBI's digital initiatives, Pravaah and Sarthi, developed by an in-house team, bagged the honor. The two systems have reduced paper submissions by a significant amount, redefining internal and external processes. Pravaah, launched in May 2024, has automated over 70 regulatory applications in nine RBI departments. Sarthi, implemented since January 2023, has improved document handling and data analytics functions. The digitalization, which started during the tenure of former RBI Governor Shaktikanta Das, is intended to streamline work flows, save costs, and bring transparency into India's financial system.

 

Source: Global Green News