Now Reading: RBI processes 99.9% of 21,937 applications on time in July
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RBI processes 99.9% of 21,937 applications on time in July
The Reserve Bank of India received 21,937 fresh applications under its Citizen's Charter in July and processed 20,628, with 99.9% disposed of within the prescribed timelines. Only 19 applications were delayed. The…
The Story in Brief
The Reserve Bank of India received 21,937 fresh applications under its Citizen's Charter in July and processed 20,628, with 99.9% disposed of within the prescribed timelines. Only 19 applications were delayed. The Charter covers 213 services, from currency management to foreign exchange approvals, and applications are handled through the PRAVAAH portal, a single-window digital platform. The largest category of applications (9,226) related to banking services for governments and commercial banks, followed by currency management (8,900). The RBI's near-perfect record comes as digital filing and service expansion drive rising volumes.
The Indian Opinion
The RBI's 99.9% on-time rate is excellent, but the narrative that Indian bureaucracy always lags is lazy. The central bank's Citizen's Charter and PRAVAAH portal show that digitisation works when backed by clear timelines. The real test will come when application volumes double or during a crisis like a sudden currency redesign. Can the system keep its flawless record under extreme stress?
Source: livemint.com
This story was synthesised by AI from the source linked above.
