S. Janakiraman advisory Group

S. Janakiraman advisory Group

Part of: GS Prelims and GS – III – Economy

In news

• An advisory group has been constituted to assist the second Regulatory Review Authority (RRA)
• RRA was set up by the RBI recently to streamline regulations and reduce the compliance burden of regulated entities.

Key takeaways 

• Headed by: SBI Managing Director S. Janakiraman. 
• The group will assist the RRA by identifying areas, regulations, guidelines, returns which can be rationalised
• It shall submit reports periodically to RRA containing the recommendations/suggestions.

Do you know? 

• In 1999, the RBI had set up a Regulations Review Authority (RRA) for reviewing the regulations, circulars, reporting systems, based on the feedback from the public, banks, and financial institutions.