RBI sets up panel to assist regulatory review authority

Mumbai, May 7

The RBI on Friday said an advisory group has been constituted to assist the second regulatory review authority (RRA 2.0) which was constituted by the central bank earlier this month to streamline regulations and reduce the compliance burden of regulated entities.

Headed by SBI managing director S Janakiraman, the advisory group will assist the RRA by identifying regulations, guidelines, and returns that can be rationalised.

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The group will assist the regulatory review authority (RRA) by identifying areas, regulations, guidelines, returns which can be rationalised and submit reports periodically to RRA containing the recommendations

The RBI has set up the second regulatory review authority (RRA 2.0), initially for a period of one year from May 1, 2021, with a view to streamline regulations and reduce the compliance burden of regulated entities.

Reserve Bank Deputy Governor M Rajeshwar Rao was appointed as the Regulations Review Authority. — PTI