Mumbai (Maharashtra) [India] May 28,
: The Reserve Bank of India on Tuesday launched three major initiatives namely Pravah Portal, Retail Direct Mobile App and Fintech Repository to facilitate individuals and institutions to access the apex bank. Pravah (Platform for Regulatory Applications, Verification and Authorization Portal) will allow any individual or entity to easily apply online for various regulatory approvals, RBI said in a notification. The notification further states that the PRAVAAH portal is a secure centralized web-based portal for any person or entity to obtain authorization licenses or regulatory approvals. On any reference made by the Reserve Bank, the portal will improve the efficiency of the regulatory approval and clearance processes of the RBI, the Retail Direct mobile app provides easy access to the platform to retail investors and facilitates transactions in Government Securities (G-Secs). Provides. ) The Retail Direct Portal was launched in November 2021 to facilitate retail investors to open their Retail Direct Gilt Accounts with Reserve Bank o India under the Retail Direct Scheme.Gilt account is a savings account that holds government securities (G-Secs instead of cash). The scheme allows retail investors to buy G-secs in the primary auction as well as buy and sell G-secs in the secondary market. After the launch of Retail Direct Mobile App, retail investors cannot transact in G-Secs using their mobile app. Smartphones. The mobile app can be downloaded from the Play Store for Android users and from the App Store for iO, while the FinTech Repository will contain information on the Indian FinTech sector for a better understanding of the sector from a regulatory perspective, thereby helping in designing appropriate policy approaches. Will be convenient.The notification said that RBI has also launched a related repository for adoption of emerging technologies (like AI, ML, Clue Computing, DLT, Quantum etc.) only for RBI regulated entities (Banks and NBFCs), called MTech. Is called the repository. Provide access to aggregate sectoral data, trends, an analysis for policy makers and industry participants, the release further said, adding that the RBI has announced these three in its bi-monthly statements of development and regulatory policies in April 2023, April 2024 and December 2022 respectively. Initiatives were announced.
: The Reserve Bank of India on Tuesday launched three major initiatives namely Pravah Portal, Retail Direct Mobile App and Fintech Repository to facilitate individuals and institutions to access the apex bank. Pravah (Platform for Regulatory Applications, Verification and Authorization Portal) will allow any individual or entity to easily apply online for various regulatory approvals, RBI said in a notification. The notification further states that the PRAVAAH portal is a secure centralized web-based portal for any person or entity to obtain authorization licenses or regulatory approvals. On any reference made by the Reserve Bank, the portal will improve the efficiency of the regulatory approval and clearance processes of the RBI, the Retail Direct mobile app provides easy access to the platform to retail investors and facilitates transactions in Government Securities (G-Secs). Provides. ) The Retail Direct Portal was launched in November 2021 to facilitate retail investors to open their Retail Direct Gilt Accounts with Reserve Bank o India under the Retail Direct Scheme.Gilt account is a savings account that holds government securities (G-Secs instead of cash). The scheme allows retail investors to buy G-secs in the primary auction as well as buy and sell G-secs in the secondary market. After the launch of Retail Direct Mobile App, retail investors cannot transact in G-Secs using their mobile app. Smartphones. The mobile app can be downloaded from the Play Store for Android users and from the App Store for iO, while the FinTech Repository will contain information on the Indian FinTech sector for a better understanding of the sector from a regulatory perspective, thereby helping in designing appropriate policy approaches. Will be convenient.The notification said that RBI has also launched a related repository for adoption of emerging technologies (like AI, ML, Clue Computing, DLT, Quantum etc.) only for RBI regulated entities (Banks and NBFCs), called MTech. Is called the repository. Provide access to aggregate sectoral data, trends, an analysis for policy makers and industry participants, the release further said, adding that the RBI has announced these three in its bi-monthly statements of development and regulatory policies in April 2023, April 2024 and December 2022 respectively. Initiatives were announced.
