RBI sets up new Regulations Review Authority

MUMBAI: The Reserve Bank of India (RBI) has set up a new Regulations Review Authority (RRA 2.0) for a period of one year to review regulatory prescriptions internally as well as by seeking suggestions from RBI-regulated entities and other stakeholders on their simplification and ease of implementation.

Deputy Governor M. Rajeshwar Rao has been appointed as the head of the RRA, set up for a period of one year from May 1, 2021, unless its tenure is extended by the RBI.

In a statement, the central bank said that considering the developments in its regulatory functions over the past two decades and evolution of the regulatory perimeter, it is proposed to undertake a similar review of the regulations and compliance procedures with a view to streamlining and rationalising them and making them more effective. (IANS)

Also Read: Rupee slips on RBI's dovish stance, loose policy

Also Watch: Assam 18th Worst Hit by COVID-19: Union Health Ministry