Report of the Regulations Review Authority 2.0

Recently, the Reserve Bank of India released the report of the Regulations Review Authority (RRA) 2.0

Key Recommendations

  • It recommended a periodic review of existing regulations to align them with evolving developments in industry practices and the financial landscape withdrawal of additional 239 redundant circulars.
  • Recommended complete elimination of paper-based returns and has identified 65 regulatory returns which should either be discontinued/merged with other returns or shall be converted into online returns.
  • A periodic review of regulatory or supervisory returns at least once in three years has been suggested.
  • RRA recommended shifting from the current prescription of submitting data on a reporting fortnight ....
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