RBI launched the Pravaah portal, Retail Direct mobile app and FinTech repository
Current Hunt Team
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.
