The Reserve Bank of India (RBI) on May 28, 2024, issued a notification regarding the RBI Retail Direct Mobile Application, FinTech Repository, and PRAVAAH.
The following has been stated namely: -
• The following initiatives were launched today namely: -
o PRAVAAH portal – It 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
o Retail Direct Mobile App – The App facilitate retail investors to open their Retail Direct Gilt accounts with the Reserve Bank of India under the Retail Direct Scheme.
o FinTech Repository - The FinTech Repository aims to capture essential information about FinTech entities, their activities, technology uses, etc. FinTechs, both regulated and unregulated, are encouraged to contribute to the Repository
