Digital Transformation Award 2025

Digital Transformation Award 2025: Recently, RBI has been honoured with the Digital Transformation Award 2025.

• About Digital Transformation Award 2025:

o Recognition: Honours central banks and financial institutions for excellence in digital innovation and technology-driven governance.

o Presented by: Central Banking, London — a globally recognized institution focusing on monetary policies, governance, and financial transformation.

o Eligibility: Open to central banks, financial regulators, and monetary institutions that have implemented successful digital reforms.

o 2025 Winner: Reserve Bank of India (RBI) for its digital initiatives — ‘Saarathi’ and ‘Pravaah’.

• RBI’s Digital Initiatives:

o About Saarathi Initiative: Internal workflow digitization system for RBI employees.

o Aim: Enhance record management, automate processes, enable secure digital submissions, and improve data tracking & collaboration.

o Impact: Eliminated manual paperwork, streamlined task tracking, and integrated various RBI departments into a unified system.

• About Pravaah Initiative: Digital regulatory application platform for external users submitting documents to RBI.

o Aim: Digitize over 70 regulatory applications, enhance transparency, and improve cybersecurity in financial documentation.

o Impact: Linked with Saarathi, reduced paperwork, and increased efficiency in RBI’s external processing systems.