- RBI launched the Pravaah portal, Retail Direct mobile app and FinTech repository.
- Reserve Bank of India (RBI) Governor Shaktikanta Das launched three major initiatives- the PRAVAAH portal, the RBI Retail Direct mobile application and the FinTech Repository.
- PRAVAAH (Platform for Regulatory Application, VAlidation and Authorization) is a secure and centralised web-based portal for any individual or entity seeking authorisation, license or regulatory approval on any reference made by it to the RBI.
- This portal will help in improving the efficiency of various processes related to granting regulatory approvals and clearances by the Reserve Bank.
- Its main aim is to enhance regulatory processes, facilitate retail investment, and provide comprehensive data on the fintech sector.
- The retail direct mobile app will provide ease of transacting in government securities (G-Secs).
- Now, retail investors can transact in G-Securities using the mobile app on their smartphones.
- The fintech repository will contain information on Indian fintech firms, which will provide a better understanding of the sector from a regulatory perspective.
RBI launched the Pravaah portal, Retail Direct mobile app and FinTech repository
ByCurrent Hunt Team
May 31, 2024