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The Reserve Bank of India (RBI) has announced that starting May 1, 2025, all regulated entities must submit their applications for regulatory authorizations, licenses, and approvals exclusively through the PRAVAAH portal. This step marks a significant move in the RBI’s ongoing efforts to digitize regulatory processes, enhance transparency, and facilitate smoother interaction with supervised financial institutions.

PRAVAAH: Advancing Digital Governance in Financial Regulation

In an official communication released on Monday, the RBI directed all banks, NBFCs, financial institutions, and other regulated bodies to discontinue the use of offline or alternative application methods and adopt the PRAVAAH portal entirely. “With effect from May 01, 2025, Regulated Entities are advised to use PRAVAAH for submitting applications for regulatory authorisations, licenses, approvals to the Reserve Bank using the application forms already available in the portal,” the central bank stated.

Launched on May 28, 2024, the PRAVAAH (Platform for Regulatory Application, Validation and Authorization) portal is a web-based, secure platform developed to simplify and centralize the application process. To date, it has handled nearly 4,000 applications, demonstrating its effectiveness as a single-window system for regulatory filings.

Despite the availability of this digital interface, many entities continued to rely on traditional paper-based methods, prompting the RBI to mandate uniform adoption. The portal allows users to submit applications, monitor their progress in real time, and download necessary documentation. It is also supported by a comprehensive help section, including user guides, FAQs, and instructional videos.

Applicability Across All RBI-Regulated Entities

This mandate extends to a wide range of RBI-supervised organizations, such as:

• Scheduled Commercial Banks (including Regional Rural Banks, Small Finance Banks, and Local Area Banks)
• Urban, State, and Central Co-operative Banks
• All-India Financial Institutions
• Non-Banking Financial Companies (NBFCs), including Housing Finance Companies
• Primary Dealers, Payment System Operators, and Credit Information Companies

By mandating PRAVAAH, the RBI aims to enhance regulatory oversight, reduce processing time, and minimize bureaucratic inefficiencies. The system offers applicants the ability to track the real-time status of submissions and ensures uniformity in application formats and procedures.

The RBI reiterated that all entities must adhere strictly to the new submission process and that further instructions and updates will continue to be posted on the PRAVAAH portal.

Disclaimer: This article provides general information existing at the time of preparation and we take no responsibility to update it with the subsequent changes in the law. The article is intended as a news update and Affluence Advisory neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this article. It is recommended that professional advice be taken based on specific facts and circumstances. This article does not substitute the need to refer to the original pronouncement.

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