Question

What does the PRAVAAH portal, launched by the Reserve Bank of India in May 2024, stand for?

• A. Portal for Regulatory Applications and Validations in Housing
• B. Public Regulatory Application, Validation, and Authorisation Hub
• C. Platform for Regulatory Application, Validation and AutHorisation
• D. Platform for Retail Applications, Validation and Authority

Answer 1

Answer:

C. Platform for Regulatory Application, Validation and AutHorisation

The PRAVAAH portal, launched by the Reserve Bank of India (RBI) in May 2024, stands for Platform for Regulatory Application, Validation, and AutHorisation Shri Shaktikanta Das, Governor, Reserve Bank of India today launched three major initiatives of the Reserve Bank of India, namely the PRAVAAH portal, the Retail Direct Mobile App and a FinTech Repository PRAVAAH is a secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made by it to the Reserve Bank. The following are some of the key features available in the portal. 1.Submit the application online on the portal; 2.Track and Monitor the status of the application/reference; 3.Respond to any clarification/query sought by the RBI in connection with the application/reference; and 4.Receive a decision from the Reserve Bank in a time bound manner.