The Reserve Bank of India (RBI) has been honored with the Digital Transformation Award 2025 by Central Banking, London, recognizing its efforts in digitizing regulatory processes and internal workflows through innovative platforms like Pravaah and Sarthi.
Recognizing RBI’s Digital Innovations
The prestigious award acknowledges RBI’s commitment to leveraging technology for enhanced efficiency and transparency in financial operations. Pravaah and Sarthi, two key initiatives developed by RBI’s in-house team, have revolutionized both internal workflows and regulatory submissions, significantly reducing reliance on paper-based processes.
Sarthi: A Digital Leap in Internal Workflows
Launched in January 2023, Sarthi (meaning ‘charioteer’ in Hindi) has streamlined RBI’s internal processes by digitizing workflow management, document storage, and interdepartmental communication. The system enables secure document handling, better record management, and advanced data analysis through dashboards and automated reporting tools.
Pravaah: Enhancing Regulatory Efficiency
Building on the success of Sarthi, Pravaah (meaning ‘smooth flow’) was introduced in May 2024 to facilitate a seamless regulatory submission process for external stakeholders. This system allows banks, financial institutions, and businesses to digitally submit applications to RBI, integrating them directly into the Sarthi database for efficient processing. Centralized cybersecurity measures and digital tracking ensure enhanced security and transparency.
Training & Implementation: Ensuring a Smooth Transition
To ensure successful adoption, RBI introduced Sarthi Pathshala, an online learning platform providing extensive training for employees. Additionally, Sarthi Mitras, designated digital champions across RBI offices, support their colleagues in navigating the system efficiently.
Global Recognition for Digital Excellence
Central Banking’s awards committee praised RBI’s strategic vision and execution in implementing these digital innovations, which have enhanced regulatory compliance, improved operational efficiency, and reduced administrative burdens.
Announcing the award on social media platform X, RBI expressed pride in its achievements and reaffirmed its commitment to advancing digital transformation within India’s financial sector.
The Digital Transformation Award 2025 marks a significant milestone in RBI’s journey towards a digitally empowered banking ecosystem, setting a benchmark for central banks globally.
