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RBI Launches Major Initiatives to Streamline Regulations, Empower Retail Investors & Enhance Fintech Insights

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The Reserve Bank of India (RBI) unveiled three initiatives designed to streamline regulatory processes, empower retail investors, and offer comprehensive insights into the expanding fintech sector.

The first initiative, the PRAVAAH portal (Platform for Regulatory Application, Validation, and Authorization), marks a major advancement in digitizing and centralizing regulatory applications. This secure online platform aims to simplify and accelerate the process for individuals and entities seeking authorizations, licenses, or regulatory approvals from the RBI.

In addition, the RBI Retail Direct mobile application is set to transform retail investment by allowing investors to buy and sell government securities (G-Secs) directly from their smartphones. With its user-friendly interface available on both Android and iOS platforms, the app aims to democratize access to the bond market, enabling retail investors to easily participate in both primary and secondary market transactions.

The third initiative is the FinTech Repository, a comprehensive database designed to provide valuable insights into India’s fintech landscape. By gathering data on fintech firms, their activities, and technology adoption within regulated institutions, this repository is expected to enhance regulatory understanding and inform policy making. Managed by the Reserve Bank Innovation Hub (RBIH), the repository will offer policymakers and industry participants critical sectoral insights, aiding the creation of targeted and adaptable regulations that foster a secure and innovative financial environment.

Through these initiatives, the RBI reaffirms its commitment to maintaining India’s financial stability and promoting a secure, dynamic, and flourishing financial future.

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