New Delhi, March 16: Prime Minister Narendra Modi on Sunday congratulated the Reserve Bank of India (RBI) for winning the 'Digital Transformation Award 2025' by Central Banking, London.

PM Modi shared his appreciation on social media platform X, quoting RBI’s post and calling it a remarkable achievement.

He emphasised that digital innovation is strengthening India's digital ecosystem, empowering millions of people across the country.

“A commendable accomplishment, reflecting an emphasis towards innovation and efficiency in governance,” said PM Modi in the post.

“Digital innovation continues to strengthen India’s financial ecosystem, thus empowering countless lives,” the Prime Minister added.

The Central Bank received the prestigious award for its digital initiatives, ‘Saarathi’ and ‘Pravaah’, which were developed by its in-house tech team.

The bank regulator took social media platform X to inform the same. "The Reserve Bank of India has been selected for the Digital Transformation Award 2025 by Central Banking, London, UK," the RBI announced.

The award committee recognised how these initiatives have significantly reduced paper-based submissions and transformed RBI’s internal and external processes.

‘Saarathi,’ launched in January 2023, has fully digitised RBI’s internal workflow. Employees can now securely submit and share documents, improving record management and enabling data analysis through reports and dashboards.

By automating processes, ‘Saarathi’ has enhanced operational efficiency, task tracking, collaboration, and integration with other RBI systems.

Earlier, different departments used a mix of manual and digital processes, but now, ‘Saarathi’ serves as a unified digital repository for the central bank’s information.

‘Pravaah,’ introduced in May 2024, provides external users with a digital platform to submit regulatory applications to RBI.

The documents submitted through 'Pravaah' are automatically linked to the Saarathi database, where they can be processed digitally using centralised cybersecurity systems and digital tracking.

So far, 'Pravaah' has digitised over 70 regulatory applications, benefiting nine departments of the RBI. (IANS)

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