Reserve Bank of India

Date : Nov 16, 2021

Regulations Review Authority (RRA 2.0) – Interim Recommendations

The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0) vide press release dated April 15, 2021. The objective of RRA 2.0 is to review the regulatory instructions, removing redundant and duplicate instructions, reduce the compliance burden on Regulated Entities (REs) by streamlining reporting structure, revoking obsolete instructions and wherever possible obviating paper-based submission of returns. It was also envisaged that the RRA will engage internally as well as externally with all regulated entities and other stakeholders to facilitate this process. The RRA has also constituted an Advisory Group representing the REs under the chairmanship of Shri Swaminathan J., Managing Director, State Bank of India.

RRA recommended RBI to withdrawal 150 circular

2. RRA has been engaging in extensive consultations with both – internal as well as external stakeholders, on review of the regulatory and supervisory instructions for their simplification and ease of implementation. Based on these consultations and the suggestions of the Advisory Group, the RRA has recommended withdrawal of 150 circulars in the first tranche of recommendations.

130. The notifications containing the list of specific instructions recommended for withdrawal is being issued separately.

(Yogesh Dayal)
Chief General Manager

Press Release: 2021-2022/1202

Also Read:

Title Notification No. Date
RBI withdraws 16 Redundant Circulars Circular No. RBI/2021-22/132 DoS.CO.PPG./SEC.06/11.01.005/2021-22 16/11/2021
RBI withdraws 9 Obsolete Regulatory Circulars/Instructions RBI/2021-22/131 DCM (Admin) No.S472/19.01.010/2021-22 16/11/2021
RBI withdraws circular on Foreign Investment in India by FPIs Circular No. RBI/2021-22/130 A.P. (DIR Series) Circular No.18 16/11/2021
RBI withdraws 2 circulars on Credit Default Swaps for Corporate Bonds Circular No. RBI/2021-22/129 FMRD.DIRD.09/14.03.059/2021-22 16/11/2021
RBI withdraws 18 Redundant Circulars Circular No. RBI/2021-22/128 DoR.RRA.69/01.01.101/2021-22 16/11/2021
RBI Withdraw 104 Obsolete Regulatory Circulars / Instructions RBI/2021-2022/127 CO.DPSS.OVRST.No.S929/06-08-001/2021-2022 16/11/2021

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