In a significant move towards digitization and efficiency, the Reserve Bank of India (RBI) has announced that, effective May 1, 2025, all applications for regulatory authorizations, licenses, and approvals must be submitted mandatorily through the PRAVAAH portal.
Background:
The PRAVAAH (Platform for Regulatory Application, VAlidation and AutHorisation) portal was launched by the RBI in May 2024 as part of its commitment to enhance transparency, improve service delivery, and digitize internal workflows involved in the regulatory approval process. Initially launched with 60 application forms, the portal has since expanded to 108 forms across various regulatory and supervisory departments.
Key Features of the PRAVAAH Portal:
Online Application Submission: Applicants can submit their requests directly through the portal.
Real-Time Tracking: Status updates allow applicants to monitor the progress of their applications.
Communication and Query Handling: The portal facilitates prompt responses to clarifications and queries raised by the RBI.
Time-Bound Decision Making: Ensures quicker resolution and greater transparency.
Mandatory Usage Notification:
As per the press release dated April 11, 2025, the RBI has advised all applicants—including Regulated Entities (REs)—to use the PRAVAAH portal for submitting all applications related to regulatory approvals. For cases where a specific application form is not yet available, a general-purpose form is provided on the portal.
Over 3,000 applications/requests have already been processed through PRAVAAH since its launch, reflecting growing adoption across the ecosystem.[i]
Exceptions and Support:
Recognizing possible challenges, the RBI has made provisions for exceptional cases. If members of the public are unable to access or use the PRAVAAH system, they may continue to submit their applications directly to the Reserve Bank.
Applications by the Foreign Exchange Department (FED) on PRAVAAH:
The Reserve Bank of India, in its press release, has provided a detailed list of departments and corresponding purposes for which application forms will be available on the PRAVAAH portal. Further, the following categories of applications processed by the Foreign Exchange Department (FED) must be submitted exclusively through the PRAVAAH portal from 1st May, 2025:
| Sr. No. | Purpose | Applicant |
| 1 | Addendum to already filed compounding application | Applicant to RBI |
| 2 | Approval for miscellaneous current account/import of services remittances to be granted by External Payment Division, FED, CO | AD Bank to RBI |
| 3 | Approval for remittance beyond prescribed limit under para 2.i of Schedule III of Foreign Exchange Management – Current Account Transactions Rules, 2000 dated May 03, 2000 | AD Bank to RBI |
| 4 | Remittance in excess of LRS limit (para A.7 of LRS Master Direction) | AD Bank to RBI |
| 5 | Acquisition or Sale of Immovable Property | Applicant to RBI |
| 6 | Bank Guarantees beyond AD Bank limits | AD Bank to RBI |
| 7 | Opening of Special Rupee Vostro Account | AD Bank to RBI |
| 8 | Borrowing and lending under FEMA | AD Bank to RBI |
| 9 | Clarifications on regulations/directions from FED, CO | AD Bank to RBI |
| 10 | Compounding application hearing confirmation | Applicant to RBI |
| 11 | EDPMS-IDPMS references to Trade Division, FED | AD Bank to RBI |
| 12 | Foreign Investment in Non-Debt Instruments | AD Bank to RBI |
| 13 | General correspondence on Overseas Investment (including prior approval) | AD Bank to RBI |
| 14 | Regulatory Approvals under FEMA (5R and 10R) | AD Bank to RBI |
| 15 | General References to Trade Division, FED | AD Bank to RBI |
| 16 | Queries related to APRD, FED | AD Bank to RBI |
| 17 | Guarantees under FEMA | AD Bank to RBI |
| 18 | Regulatory Approvals for Liaison/Branch/Project Offices in India | AD Bank to RBI |
Notes:
[i] Source: RBI Press release dated 11 April, 2025 and May 28, 2024
Author : Ridhi Gada- Manager – MMJC
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