RBI honoured with Central Banking ‘Digital Transformation Award’
Award and Honour
4 min read
Reserve Bank of India (RBI) has bagged the 2025 Digital Transformation Award of the Central Banking Award announced by London-based Central Banking. The 12th annual Central Banking Award was announced in London on 13th March 2025 by Central Banking.
Central Banking is a company that covers the Central Banks of the world and provides comprehensive coverage of the world’s economic situation.
RBI’s Sarthi and Pravaah digital initiatives recognised by Central Banking
The Central Banking recognised the Pravaah and Sarthi digital initiatives of the RBI for the 2025 Digital Transformation Award.
The award credits former RBI Governor Shaktikanta Das for transforming the paper-based RBI work culture into a digital-based work culture, to standardize and streamline workflows, cut costs, and raise transparency.
Saarthi Initiative
Saarthi went live in January 2023 to digitise RBI’s internal workflow.
It helped RBI‘s staff to store and share documents securely, improving record management and increasing the options for data analysis through reports and dashboards.
Pravaah Initiative
After the successful adoption of the Saarthi initiative, the RBI launched the Parvaah initiative.
The Parvaah system went live in May 2024. The Parvaah focused on providing a digital forum for external users to submit regulatory applications to the RBI. The regulatory documents are processed through the Pravaah portal and then plugged into the Sarthi database.Through the Saarthi the concerned department/staff of the RBI can process the documents. The whole system is equipped with a centralised cyber security system and digital tracking.
Who has developed the Saarthi and Pravaah Systems?
Both the Saarthi and the Pravaah systems have been developed by the RBI’s IT department. The developer team of Sarthi and Parvaah was led by Shailendra Trivedi, chief general manager-in-charge of the RBI’s IT department.
Benefits of Pravaah and Saarthi
- Pravaah has increased the efficiency of the RBI. Between May 2024 -December 2024 over 2,000 applications had been filed through the system, marking an 80% increase in monthly applications.
- It has also increased the transparency in the working of the RBI as the Saarthi dashboards enable the RBI to monitor the status of the application and applicants also know about the status of its application.
- Saarthi has boosted RBI’s operational efficiency by automating the whole process.
- Saarthi allows task and performance tracking, improved collaboration, and integration with other RBI systems.
- Saarthi creates a unified global repository for RBI’s information.
- RBI’s cyber security specialists can continuously monitor the RBI’s system for suspicious activity through Saarthi.
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