What is FinTech  & EmTech Repositories? About PRAVAAH Portal :

Why in News ? The RBI  has launched three major initiatives, including a mobile app, to enable retail investors to participate in the government securities (G-Secs) market.

These  3 initiatives are PRAVAAH portal , Fintech  & EmTech Repositories.

About  PRAVAAH portal :

• The Reserve Bank of India (RBI) launched the PRAVAAH portal in April 2023.
• It stands for Platform for Regulatory Application, validation and Authorisation.

Purpose: It’s a secure web-based platform designed to streamline the process of applying for various regulatory approvals from the RBI.

Benefits:

• Centralized Platform: Individuals and entities can submit applications for licenses, authorizations, or other regulatory approvals in one place. This eliminates the need to navigate through different channels or departments within the RBI.
• Efficiency: The online application process is expected to expedite approvals and clearances by the RBI.