On 28th May 2024, the Reserve Bank of India (RBI) took a major step towards digital transformation in the regulatory space with the launch of the PRAVAAH Portal — Platform for Regulatory Application, Validation and Authorization Hub.
This centralized web-based platform brings a much-needed overhaul to how regulatory approvals are sought and processed. From simplifying workflows to enhancing transparency, PRAVAAH is designed to save time, reduce paperwork, and most importantly, provide end-to-end visibility to applicants.
💼 What Can Be Done on PRAVAAH?
The portal covers 108 application forms across departments including:
- Department of Regulation – Licenses for banks, NBFCs, approvals for appointments, compensation, etc.
- Department of Supervision – NBFC name change, merger approvals, UCBs’ governance and expansion requests.
- Foreign Exchange Department (FED) – FEMA-related permissions like LO/BO/PO setups, immovable property transactions, ECB approvals.
- Department of Payment and Settlement Systems (DPSS) – Licensing and renewals for PAs, PSOs, MTSS, and cross-border aggregators.
- Other Departments – Including Financial Market Regulation, Internal Debt Management, and Government Accounts.
Whether you’re applying for an NBFC license, remitting beyond the $1 million threshold as an NRI, or setting up a liaison office under FEMA, PRAVAAH brings all of these under one digital roof.
✅ Key Features
- Digital Filing of Applications
- Real-Time Status Updates
- SMS/Email Notifications
- Query Management and Faster Clarifications
- Time-bound Disposals by RBI
🗓️ Mandatory From May 1, 2025
Starting May 1, 2025, all applications to the RBI must be routed through PRAVAAH. In rare exceptions where online submission isn’t possible, physical submissions will still be processed via the portal backend.
In an age where regulatory compliance is a cornerstone of trust, PRAVAAH is a much-needed enabler for businesses, banks, NBFCs, and fintechs to interact with the RBI more efficiently.
🔗 Explore the portal at https://pravaah.rbi.org.in
If you’re a business advisor, compliance officer, or founder navigating RBI regulations, now is the time to familiarize yourself with this platform.
Let’s embrace the future of regulatory ease.