Which bank of India has been awarded the Digital Transformation Award 2025 for digital initiatives—Pravaah and Sarthi by Central Banking, London, United Kingdom?​

Correct option is C

The correct answer is (c) Reserve Bank of India

Explanation:

• In March 2025, the Reserve Bank of India (RBI) received the Digital Transformation Award 2025 from Central Banking, London, for its digital initiatives—Sarthi and Pravaah.
• Sarthi, launched in January 2023, digitized RBI’s internal workflows such as document processing, file movement, and approvals.
• Pravaah, introduced in May 2024, facilitates real-time, paperless application processing for external stakeholders and integrates with Sarthi for seamless operations.
• Both platforms enhance operational efficiency, transparency, and governance in central banking operations.
• The initiatives were conceptualized and developed in-house by RBI’s IT team.

Information Booster:

• RBI’s digital transformation is aligned with India's broader push towards e-governance and digital public infrastructure.
• Central Banking London recognized RBI’s tech adoption as exemplary among central banks worldwide.

Additional Knowledge:

State Bank of India (Option a)

• India’s largest commercial bank with popular platforms like YONO.
• Focuses on retail banking innovation but did not win the 2025 digital transformation award.
• Known for financial outreach, not regulatory tech transformation.

Bandhan Bank (Option b)

• A newer private sector bank focused on financial inclusion and microcredit.
• Has adopted mobile and branchless banking but not associated with Sarthi or Pravaah.
• Not recognized by Central Banking in 2025.

Punjab National Bank (Option d)

• A leading public sector bank with efforts in digitization of services.
• Did not win any international award for digital transformation in 2025.
• Engaged in domestic upgrades but not pioneering central regulatory tools.