RBI forms advisory taskforce to assist regulatory review authority

10 May 2021 CW Team

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

Resources

03 Jun 2026

Jyoti Structures Launches Heat Safety Drive Across Sites

Jyoti Structures (JSL) has strengthened heat safety measures across its project sites and manufacturing facilities as temperatures rise across India. The company has implemented a Summer Safety Plan covering all transmission line projects to address risks related to heat stress, dehydration and worker fatigue.The initiative includes rescheduling work away from peak afternoon temperatures, provision of drinking water, ORS and lemon-salt solutions, and installation of rest shelters near work areas. Daily toolbox talks, worker health monitoring, first-aid preparedness, emergency transport arrange..

MHADA Declares 82 Buildings Most Dangerous in Central and South Mumbai

The Maharashtra Housing and Area Development Authority (MHADA) has declared 82 buildings as most dangerous across Central and South Mumbai and has appealed to residents to vacate immediately. The list, prepared after structural assessments by the authority, identifies buildings judged to pose imminent risk to occupants and to passersby. Local civic bodies have been asked to coordinate evacuations and to make arrangements for temporary shelter and rehabilitation for displaced households. Officials said the authority prioritised buildings with visible structural distress, severe cracking, tiltin..

Damage Reported At Halwara Airport Terminal After First Rains

Severe damage was reported at the terminal of Halwara Airport during the first major rain spell of the season, prompting immediate concern among aviation and local authorities. Images from the site showed water ingress and visible deterioration of the terminal interior, affecting passenger areas and ancillary services. The airport authority suspended certain operations temporarily to assess structural safety and ensure passenger wellbeing. Preliminary inspections have prioritised electrical systems and roof seals to prevent further water ingress. State aviation officials ordered a formal inqui..