RBI Latest Guidelines For banks, monetary firms; asks them to make use of PRAVAAH portal from 1 May

New Delhi: The Reserve Bank of India (RBI) has recommended all banks, monetary firms, and different regulated entities to make use of PRAVAAH portal from 1 May 2025.

RBI mentioned that PRAVAAH portal should be used to publish any programs for authorisations, licenses, and approvals.

“…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,” RBI mentioned in a notification on Monday.

The central financial institution has additionally prompt all Regulated Entities are to stick to the directions. Instructions associated with gaining access to the portal, submission and monitoring of programs and many others which can be to be had at the portal itself. 

Further, for the benefit of customers, the consumer handbook, FAQs and movies also are to be had at the portal. PRAVAAH portal will also be accessed at https://pravaah.rbi.org.in, the central financial institution added.

On May 28, 2024, the Reserve Bank introduced PRAVAAH (Platform for Regulatory Application, Validation And AutHorisation) as a safe and centralised web-based portal for any entity or particular person to hunt authorisation, license or regulatory approval on any reference made by way of it to the Reserve Bank. 

PRAVAAH has since facilitated receipt of just about 4,000 programs/requests. However, some programs/requests are nonetheless being submitted by way of the Regulated Entities out of doors PRAVAAH, RBI mentioned.