Mugdha Das

RBI honoured with global award for digital innovation

Digital Desk: The Reserve Bank of India (RBI) has received the Digital Transformation Award 2025 from Central Banking, London, underlining the importance of digital innovation in boosting India's financial ecosystem.

The RBI was awarded for its Pravaah and Sarthi digital programs, which were developed in-house. These measures have drastically reduced paper-based submissions, allowing the RBI to streamline its internal and external operations.

For more than 30 years, Central Banking, a worldwide financial institution headquartered in London, has provided independent coverage, data analysis, and professional training. It acknowledged the RBI's transition from a historically paper-based organization to a more technologically linked one.

The Reserve Bank of India (RBI) received congratulations from Prime Minister Narendra Modi for earning the 2025 Digital Transformation Award.

Taking to X, PM Modi stated, “Digital innovation continues to strengthen India’s financial ecosystem, thus empowering countless lives.”

RBI's Sarthi system is a digital endeavor designed to digitize the organization's internal operations. The title "Sarthi" means charioteer in Hindi, and the system, which was launched in January 2023, aims to assist employees in securely storing and sharing data.

According to the Central Banking website, this technology intends to improve record management and expand data analysis choices through various reports and dashboards.

The RBI Pravaah is another project that was introduced in May 2024. The system was developed to provide a digital platform for external users to submit regulatory applications to the banking regulator.

Pravaah is the digital portal via which papers are processed and entered into the Sarthi database, where they can be handled digitally across the central bank's offices in a centralized system controlled by cyber security and digital tracking.