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Starting May 1, 2025, the Reserve Bank of India (RBI) will require all regulated entities—including banks, NBFCs, and financial institutions—to submit applications for regulatory authorizations, licenses, and approvals exclusively through its PRAVAAH portal. Launched in May 2024, PRAVAAH (Platform for Regulatory Application, Validation and Authorization) is a centralized, web-based system designed to digitize and streamline communication between the RBI and supervised entities. The portal has processed around 4,000 applications so far and offers features such as real-time tracking, downloadable forms, and user support tools. The move aims to improve efficiency, reduce manual processes, and ensure standardization across the financial sector.