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RBI wins global Digital Transformation Award 2025

IANS March 15, 2025 200 views

The Reserve Bank of India has achieved a significant milestone by winning the global Digital Transformation Award for 2025. Its innovative Pravaah and Sarthi systems have completely digitized internal and external processes, dramatically reducing paper-based submissions. The RBI's approach involved extensive staff collaboration, training, and a user-centric design strategy. This recognition highlights India's growing technological prowess in the banking sector.

"RBI was awarded and recognised for its initiatives, including Pravaah and Sarthi systems" - RBI Official Statement
RBI wins global Digital Transformation Award 2025
Mumbai, March 15: The Reserve Bank of India has won the Digital Transformation Award 2025, instituted by Central Banking, London.

Key Points

1

RBI transforms internal workflows through digital system Sarthi

2

Pravaah enables seamless external regulatory submissions

3

Comprehensive digital transformation strategy implemented

4

Collaborative approach with extensive staff training

The RBI has been selected for the award for rolling out digital initiatives, including Pravaah and Sarthi systems, that have reduced the use of paper-based submissions to transform its internal and external processes.

Central Banking, in a press statement said that the two initiatives have been key to this work.

Sarthi, the Hindi word for ‘charioteer,’ digitised all the RBI's internal workflows. It went live in January 2023, helping employees to store and share documents securely, improving record management and increasing the options for data analysis through reports and dashboards.

A second stage of the digital transformation process launched in May 2024 as Pravaah, which means 'smooth flow' in Hindi, created a digitised means for external users to submit regulatory applications to the RBI.

Documents submitted and processed through the Pravaah portal are then plugged into the Sarthi database, where they can be handled digitally across the RBI's offices, with centralised cyber security systems and digital tracking.

It also said that the successful adoption of Sarthi is partly due to the team's work in putting in place the necessary support structures.

The IT team engaged in a lengthy collaborative process with staff to understand their needs before building the system, and appointed senior 'nodal officers' from each department to champion the upgrade.

The online Sarthi Pathshala ('school') helps users become familiar with the system, and the Pathshala was rolled out alongside extensive in-person training. Additionally, Sarthi mitras ('friends') are people in each RBI office who know the system well and can help colleagues with any issues.

The RBI announced that it has been selected for the award in a post on X.

“RBI was awarded and recognised for its initiatives, including Pravaah and Sarthi systems, that have been developed by in-house developer team. The awards committee noted how these digital initiatives have reduced use of paper-based submissions thus transforming RBI’s internal and external processes,” the RBI said.

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