+
RBI forms advisory taskforce to assist regulatory review authority
ECONOMY & POLICY

RBI forms advisory taskforce to assist regulatory review authority

The Reserve Bank of India has announced that an Advisory Group has been formed to assist the central bank's second Regulatory Review Authority (RRA 2.0), which was established earlier this month to streamline regulations and bring down the compliance burden of regulated entities.

The Advisory Group, led by SBI Managing Director S Janakiraman, will help the RRA by identifying regulations, guidelines, and returns that can be simplified.

The RBI established the second Regulatory Review Authority (RRA 2.0) on May 1, 2021, for a one-year period, with the goal of streamlining regulations and reducing the compliance burden on regulated entities.

M Rajeshwar Rao, Deputy Governor of RBI, has been appointed as the Regulations Review Authority. According to RBI, the RRA has formed an Advisory Group, comprising members from regulated entities, including compliance officers, to assist the RRA in achieving the goal set forth in RRA 2.0's terms of reference.

The group will assist the RRA by identifying areas, regulations, guidelines, and returns that can be rationalised and submitting reports to the RRA with the recommendations and suggestions on a regular basis.

The Advisory Group has requested feedback and suggestions from all regulated entities, industry bodies, and other stakeholders by June 15 in order to begin its preparatory work.

The RBI established the Regulations Review Authority (RRA) in 1999 to review regulations, circulars, and reporting systems in response to public, bank, and financial institution feedback.

Image Source

The Reserve Bank of India has announced that an Advisory Group has been formed to assist the central bank's second Regulatory Review Authority (RRA 2.0), which was established earlier this month to streamline regulations and bring down the compliance burden of regulated entities. The Advisory Group, led by SBI Managing Director S Janakiraman, will help the RRA by identifying regulations, guidelines, and returns that can be simplified. The RBI established the second Regulatory Review Authority (RRA 2.0) on May 1, 2021, for a one-year period, with the goal of streamlining regulations and reducing the compliance burden on regulated entities. M Rajeshwar Rao, Deputy Governor of RBI, has been appointed as the Regulations Review Authority. According to RBI, the RRA has formed an Advisory Group, comprising members from regulated entities, including compliance officers, to assist the RRA in achieving the goal set forth in RRA 2.0's terms of reference. The group will assist the RRA by identifying areas, regulations, guidelines, and returns that can be rationalised and submitting reports to the RRA with the recommendations and suggestions on a regular basis. The Advisory Group has requested feedback and suggestions from all regulated entities, industry bodies, and other stakeholders by June 15 in order to begin its preparatory work. The RBI established the Regulations Review Authority (RRA) in 1999 to review regulations, circulars, and reporting systems in response to public, bank, and financial institution feedback. Image Source

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code