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Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday launched three major initiatives – PRAVAAH portal, the retail direct mobile app and a fintech repository.
PRAVAAH (Platform for Regulatory Application, VAlidation and AutHorisation) is a secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made by it to the RBI. At present, 60 application forms covering different regulatory and supervisory departments of RBI have been made available on the portal.
The retail direct mobile app will provide retail investors a seamless and convenient access to the retail direct platform and provide ease of transacting in government securities (G-Secs). The RBI launched the retail direct portal in November 2021 to facilitate investment in government securities by individual investors. With the launch of the retail direct mobile app, retail investors can now transact in G-Secs using the mobile app on their smartphones, the regulator said in a release.
The regulator said the fintech repository will contain information on Indian fintech firms for a better understanding of the sector from a regulatory perspective and facilitate in designing appropriate policy approaches.
