Mumbai:
The Reserve Bank of India has been awarded the Digital Transformation Award 2025 by Central Banking, London. RBI has been selected for ‘flow’ and ‘charioteer’ digital initiative. This has reduced the use of paper in the central bank. Central Banking said in a press statement that both these initiatives have been important for this work.
All the internal workflows of RBI have become digital with Sarathi initiative. With this initiative to be live in January 2023, employees got the facility to store and share the documents safely. Also, record management also improved.
The second phase of digital transformation was launched in May 2024 as ‘flow’, which created a digital medium for external users to submit regulatory applications to RBI.
Submit and processed documents are then plugged into the charioteer database through the flow portal, where they can be digitally handled in the RBI office with Centralized Cyber Security System and Digital Tracking.
Successfully adopting the charioteer is due to the team’s work in establishing partially essential support structures.
Before creating the system, the IT team participated in a long collaborative process with them to understand the needs of the employees and appointed senior ‘nodal officers’ from each department to promote the upgrade.
Online Sarathi Pathshala (‘School’) helps users to become familiar with the system and the school was started with in-traine training. Apart from this, Sarathi Mitra (‘Mitra’) In every RBI office, there are people who know the system well and can help colleagues on any issue.
The RBI announced on its X handle that the central bank has been selected for the Digital Transformation Award 2025.
The central bank wrote in the post, “RBI has been honored and recognized for its initiatives including the ‘flow’ and ‘charioteer’ system developed by the in-house developer team.