MUMBAI, India, May 7 -- Reserve Bank of India issued the following notification:
1. Introduction
This Framework for Formulation of Regulations (hereinafter referred to as 'the Framework') lays down the broad principles for formulation and amendment of Regulations by the Reserve Bank of India (hereinafter referred to as "the Bank"). The Framework seeks to standardize the process of making Regulations in a transparent and consultative manner after conducting impact analysis, as may be feasible.
2. Definition:
(1) For the purpose of this Framework, "Regulations" shall include all regulations, directions, guidelines, notifications, orders, policies, specifications, and standards as issued by the Bank in exercise of the powers conferred on ...