{"id":23747,"date":"2024-05-29T04:26:22","date_gmt":"2024-05-28T22:56:22","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=23747"},"modified":"2025-10-13T11:17:40","modified_gmt":"2025-10-13T05:47:40","slug":"reserve-bank-of-indias-rbis-new-initiatives","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/reserve-bank-of-indias-rbis-new-initiatives\/","title":{"rendered":"Reserve Bank of India\u2019s (RBIs) New Initiatives"},"content":{"rendered":"<h2>About Pravaah Portal:<\/h2>\n<ul>\n<li>Pravaah (<strong>Platform for Regulatory Application, Validation, and AutHorisation<\/strong>) is a secure and centralised web-based portal <strong>for any individual or entity<\/strong> to <strong>seek authorisation, license, or regulatory approval on<\/strong> any <strong>reference<\/strong><br \/>\n<strong>made by it to the RBI.<\/strong><\/li>\n<li>The following are some of the <strong>key features<\/strong> available in the portal:\n<ul>\n<li><strong>Submit<\/strong> the <strong>application online<\/strong> on the portal.<\/li>\n<li>Track and<strong> monitor the status<\/strong> of the application\/reference.<\/li>\n<li><strong>Respond to any clarification<\/strong>\/query <strong>sought by the RBI<\/strong> in connection with the application\/reference; and<\/li>\n<li><strong>Receive a decision<\/strong> from the <a href=\"https:\/\/vajiramandravi.com\/current-affairs\/reserve-bank-of-india\/\" target=\"_blank\">RBI<\/a> in a time-bound manner<\/li>\n<\/ul>\n<\/li>\n<li>This portal will also enhance the efficiency of various processes related to the granting of regulatory approvals and clearances by the RBI.<\/li>\n<li>At present, 60 application forms <strong>covering different regulatory and supervisory departments of RBI<\/strong> have been made available on the portal.\n<ul>\n<li>This also <strong>includes a general-purpose form<\/strong> for applicants <strong>to submit<\/strong> their <strong>requests,<\/strong> which are <strong>not included in any other application form<\/strong>.\u00a0<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>About Retail Direct Mobile App:<\/strong><\/p>\n<ul>\n<li>The <strong>retail direct portal<\/strong> was launched in November 2021 to <strong>facilitate retail investors<\/strong> to <strong>open their Retail Direct Gilt accounts with the RBI<\/strong> (https:\/\/rbiretaildirect.org.in) <strong>under<\/strong> the <a href=\"https:\/\/vajiramandravi.com\/current-affairs\/rbi-retail-direct-scheme\/\" target=\"_blank\">Retail Direct Scheme<\/a>.\u00a0\n<ul>\n<li>The scheme allows retail investors to buy G-Secs in the primary auctions as well as buy and sell G-Secs in the secondary market.<\/li>\n<\/ul>\n<\/li>\n<li>With the launch of the retail direct mobile app, <strong>retail investorscan now transact in G-Secs using the mobile app<\/strong> on their smartphones.\u00a0<\/li>\n<\/ul>\n<p><strong>About FinTech Repository:<\/strong><\/p>\n<ul>\n<li>It aims to <strong>capture essential information about FinTech entities<\/strong>, their activities, technology uses, etc. FinTechs, <strong>both regulated and<\/strong><br \/>\n<strong>unregulated.<\/strong><\/li>\n<li>It will contain information on <strong>rich repository of data on Indian FinTech firms<\/strong> for a better understanding of the sector that would be <strong>useful for<\/strong> both <strong>policymakers and participating industry members<\/strong>.<\/li>\n<li>Simultaneously, a <strong>related repository for only RBI-regulated entities<\/strong> (banks and NBFCs) on their adoption of emerging technologies (like AI, <a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/machine-learning\/\" target=\"_blank\">Machine Learning<\/a>, <a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/cloud-computing\/\" target=\"_blank\">Cloud Computing<\/a>, DLT, Quantum, etc.), <strong>called EmTech Repository<\/strong> is also being launched.<\/li>\n<li>The FinTech and EmTech Repositories are <strong>secure web-based applications<\/strong> and are <strong>managed by the <\/strong><a href=\"https:\/\/vajiramandravi.com\/current-affairs\/reserve-bank-innovation-hub-rbih\/\" target=\"_blank\">Reserve Bank Innovation Hub (RBIH)<\/a><strong>,<\/strong> a <strong>wholly owned subsidiary of RBI.\u00a0<\/strong><\/li>\n<\/ul>\n<hr \/>\n<h3>Q1: What are G-Secs?<\/h3>\n<p>A Government Security (G-Sec) is a tradable instrument issued by the Central Government or the State Governments. It acknowledges the Government\u2019s debt obligation. Such securities are short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with original maturity of one year or more). G-Secs carry practically no risk of default and, hence, are called risk-free gilt-edged instruments.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/rbi-unveils-pravaah-portal-retail-direct-mobile-app-and-fintech-repository\/article68225543.ece#:~:text=Reserve%20Bank%20of%20India%20(RBI,App%20and%20a%20FinTech%20Repository\" target=\"_blank\" rel=\"nofollow noopener\">RBI unveils Pravaah portal, Retail Direct Mobile App and FinTech Repository<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pravaah is a secure and centralised web-based portal for any individual or entity to seek authorisation, license, or regulatory approval on any reference<br \/>\n made by it to the RBI.<\/p>\n","protected":false},"author":5,"featured_media":23748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-23747","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/23747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=23747"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/23747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/23748"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=23747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=23747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=23747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}