- The Reserve Bank of India (RBI) has been honored with the Digital Transformation Award 2025 by Central Banking in London, UK.
- This recognition comes as a result of the bank’s innovative digital projects—Pravaah and Sarthi—developed by its talented in-house team.
- Sarthi, which made its debut in January 2023, has revolutionized RBI’s internal workflows.
- It allows employees to securely store and share documents, enhances record management, and broadens the possibilities for data analysis through comprehensive reports and dashboards.
- The awards committee highlighted how these digital initiatives have significantly cut down on paper-based submissions, effectively transforming both RBI’s internal and external processes.
The Reserve Bank of India (RBI) has been honored with the Digital Transformation Award 2025 by Central Banking in London, UK. This recognition comes as a result of the bank’s innovative digital projects—Pravaah and Sarthi—developed by its talented in-house team.
Sarthi, which made its debut in January 2023, has revolutionized RBI’s internal workflows. It allows employees to securely store and share documents, enhances record management, and broadens the possibilities for data analysis through comprehensive reports and dashboards.
The awards committee highlighted how these digital initiatives have significantly cut down on paper-based submissions, effectively transforming both RBI’s internal and external processes.
In the next phase of this transformation, launched in May 2024 as Pravaah, a digital platform was introduced for external users to submit regulatory applications to the RBI. Documents submitted through this portal are integrated into the Sarthi database, enabling seamless digital handling across RBI offices, all while ensuring robust cybersecurity and digital tracking.
So far, Pravaah has facilitated the digitization of over 70 different regulatory applications, aiding the efforts of nine RBI departments. From its launch in May until the end of 2024, more than 2,000 applications were filed through the system, reflecting an impressive 80 percent increase in monthly applications, thanks in part to the user-friendly nature of the portal.
The statement emphasized that the successful implementation of Sarthi can be attributed to the team’s dedication in establishing the necessary support structures. The IT team engaged in an extensive collaborative effort with staff to grasp their needs before developing the system and appointed senior nodal officers from each department to advocate for the upgrade.
Sarthi has really stepped up to help the RBI enhance its operational efficiency by automating various processes. It enables better tracking of tasks and performance, fosters improved collaboration, and seamlessly integrates with other RBI systems. In the past, RBI’s different departments had to juggle a patchwork of manual and digital processes, but now, Sarthi has created a cohesive global repository for all the central bank’s information.
On top of that, RBI’s cybersecurity experts can keep a close eye on the system to spot any suspicious activity.