The Reserve Bank of India (RBI) won the Digital Transformation Award 2025, presented by Central Banking, London.

• The award recognizes RBI’s digital initiatives, Saarathi and Pravaah, developed by its in-house tech team.

About Digital Transformation Award 2025

• The Digital Transformation Awards stand as an independent program that confidently recognises and celebrates the outstanding achievements of businesses, teams, and individuals who have excelled in delivering digital technologies to enhance or modify business processes, customer experience, or cultural change.
• Presented by: Central Banking, London, a globally recognized institution focusing on monetary policies and financial governance.
• Eligibility: Open to central banks, financial regulators, and monetary institutions implementing successful digital reforms.

Categories of Award

• Best Use of Technology: This award recognizes the most effective application of technology in a digital transformation project.
  • Judges seek projects that showcase cutting-edge solutions, successful execution, team upskilling, and overcoming challenges while ensuring inclusivity.
• Best Use of Cloud in Digital Transformation: Awarded for leveraging cloud capabilities to drive transformation, enhance operational resilience, and reduce costs.
  • Judges evaluate cloud adoption strategy, scalability, team training, and overall business impact.
• Best Use of FinTech(s): This category honors projects integrating FinTech solutions for improved business and customer outcomes.
  • Key criteria include collaboration with FinTech firms, seamless technology adoption, and overcoming integration challenges.

About RBI’s Digital Initiatives Leading to the Award

Saarathi Initiative

• Purpose: Internal workflow digitization system for RBI employees.
• Lunched in 2023 by RBI.
• Features:
• • Enhances record management, automation, secure digital submissions, and data tracking.
  • Eliminates manual paperwork and streamlines task tracking.
  • Integrates various RBI departments into a unified system.

Pravaah Initiative (Platform for Regulatory Application, Validation, and Authorization)

• Purpose: External regulatory application platform for individuals/entities to seek RBI’s authorization, license, or approval.
• Launched in 2024 by RBI.
• Features:
• • Web-based, secure, and centralized system for submitting regulatory applications.
  • Digitized 70+ regulatory applications, benefiting nine RBI departments.
  • Integrated with Saarathi, improving transparency, efficiency, and cybersecurity.