In a significant step toward digitizing India’s regulatory ecosystem, the Reserve Bank of India (RBI) has rolled out PRAVAAH – the Platform for Regulatory Application, Validation And AutHorization. Designed as a secure, web-based portal, PRAVAAH is now the single-window interface for all regulatory applications submitted to the RBI.
Starting May 1, 2025, RBI has mandated that all regulated entities—from banks and NBFCs to payment system operators and credit bureaus—must use the PRAVAAH portal for submitting regulatory applications, licensing requests, and authorization approvals.
What is PRAVAAH?
PRAVAAH is RBI’s ambitious initiative to Centralize and digitize the application process for financial entities, ensure transparency and consistency in regulatory communication, offer real-time tracking of application status and improve turnaround time and operational efficiency.
With over 108 forms currently available, the platform caters to diverse requirements across departments like Department of Regulation (DoR), Department of Supervision (DoS), Foreign Exchange Department (FED) and Department of Payment and Settlement Systems (DPSS).
What Applications Are Covered?
Some key use cases include:
- Licensing for new banks, NBFCs, ARCs, HFCs
- Approvals for changes in shareholding, directors, or control
- Approvals for FEMA applications: ODI, ECB, remittances, BO/LO Set up, and property transactions
- Authorization for payment aggregators, wallet providers, WLAs
- Foreign Exchange compounding and compliance requests
- Branch expansion, mergers, capital infusion, and fintech tie-ups
Who Needs to Use PRAVAAH?
Mandatory usage of PRAVAAH applies to all RBI-regulated entities, including:
- Scheduled Commercial Banks (including RRBs, SFBs, and LABs), Urban and Rural Co-operative Banks
- Non-Banking Financial Companies (NBFCs), Housing Finance Companies
- Payment System Operators
- Primary Dealers, Credit Information Companies
- All-India Financial Institutions
- Entities involved in Forex transactions regulated under FEMA, including AD Category-I Banks (Authorized Dealers), Money Changers and Entities engaged in cross-border remittances or overseas investments
These entities must now submit all relevant applications only through PRAVAAH so no more email or paper-based filings.
PRAVAAH is more than a compliance portal, it is a strategic enabler. It reduces regulatory friction, promotes transparency, ensures consistency in application handling, and shortens processing time. For a growing and diverse financial ecosystem, such infrastructure is essential to balance innovation with regulatory oversight. One can register and begin using the platform at https://pravaah.rbi.org.in. The site also offers FAQs, user manuals, and video tutorials to support a smooth onboarding experience.