MUMBAI: The Reserve Bank of India (RBI), India’s central bank, has scored a double whammy at the Central Banking the global authority for central bank information and news 2025 Awards. The publication awarded two of its digital transformation initiatives – Sarthi (charioteer) and Pravaah (smooth flow) in the digital transformation category on 13 March.
The RBI had brought in these systems to substitute mind-numbing paper-pushing processes which had plagued it, replacing them with sleek digital workflows.
The Sarthi system, which went live in January 2023, has turned the RBI’s internal workings into a well-oiled machine,
Staff can now store and share documents securely without the load of managing paper files.
Tasks previously requiring manual handling now flow through digital channels.
Managers can keep tabs on work progress without breathing down employees’ necks.
Replaces the hodgepodge of systems previously used across 40 plus offices and 13,500 staff.
Meanwhile, Pravaah, launched in May 2024, allows external users to submit regulatory applications electronically a proper game-changer that,
Digitised 70 plus regulatory applications across nine RBI departments.
Boosted application submissions by a whopping 80 per cent monthly.
Created transparency with dashboards showing application status.
Linked seamlessly with Sarthi for end-to-end digital processing.
The digtisation has yielded impressive results. Sarthi now has over 10,000 active users with up to 5,000 logging in daily, while Pravaah processed more than 2,000 applications between May and December 2024.
The digital makeover has turned the 90-year-old paper-pushing behemoth into a tech-savvy operation. Staff who once shuffled papers are now happily clicking away, supported by ‘Sarthi Pathshala’ (school) for training and ‘Sarthi Mitras’ (friends) who help colleagues navigate the brave new digital world.
With enhanced cyber security monitoring, improved collaboration, and the promise of future innovations including cloud computing, the RBI has proven you can teach an old dog new tricks and rather splendidly at that.
Prime minister Narendra Modi applauded the win by India’s central bank by posting on X, “A commendable accomplishment, reflecting an emphasis towards innovation and efficiency in governance.”
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