Why in the News?
The Reserve Bank of India (RBI) was recently awarded the prestigious Digital Transformation Award 2025 by Central Banking, a recognition of its groundbreaking digital initiatives, Sarthi and Pravaah.
About Sarthi System
- The Sarthi system was launched in January 2023 by the RBI with the goal of digitizing all internal workflows within the organization.
- This initiative aimed to reduce the reliance on paper-based processes and enhance operational efficiency across the RBI.
- Key features include:
- It can securely store and share documents among the 13,500 employees spread across 40+ locations.
- It also improves record management and provides enhanced data analysis capabilities through reports and dashboards.
- Additionally, Sarthi automates internal processes such as task tracking, approvals, and document management, streamlining operations and improving collaboration between departments.
- To ensure that employees are proficient in using the system, an online training platform, called Sarthi Pathshala, was launched alongside in-person training.
- Sarthi Mitras, who are designated experts within RBI offices, assist colleagues in navigating and resolving issues related to the system.
About Pravaah System
- Building on the success of Sarthi, the RBI introduced the Pravaah system in May 2024.
- Its primary purpose is to facilitate external users in submitting regulatory applications digitally to the RBI.
- This platform has greatly enhanced the efficiency and transparency of the application submission process.
- Key features include:
- It integrates seamlessly with the Sarthi database, enabling smooth processing of regulatory documents.
- It supports more than 70 different regulatory applications, significantly improving the speed and accuracy of submissions.
- It is equipped with centralized cybersecurity measures and digital tracking capabilities, which provide real-time monitoring of applications for both applicants and RBI managers.
- It has contributed to an 80% increase in monthly applications, marking a significant achievement in reducing delays associated with traditional, paper-based systems and streamlining the overall process.
PYQ:[UPSC 2024] Consider the following statements in respect of the digital rupee: 1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy. 2. It appears as a liability on the RBI’s balance sheet. Which of the statements given above is/are correct? (a) Only one (b) Only two (c) All three (d) None |
