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.
