MUMBAI, India, Sept. 17 -- Reserve Bank of India issued the following press release:
In continuation of the Framework for Formulation of Regulations1, the Reserve Bank of India has decided to strengthen the institutional mechanism for review of regulations2 and has constituted a Regulatory Review Cell (RRC).
2. The mandate of the RRC is to ensure that all the regulations issued by the Bank are subject to a comprehensive and systematic internal review every 5 to 7 years. The RRC shall be set up in the Department of Regulation effect from October 1, 2025 and would undertake the review of regulations in a phased manner.
3. In order to strengthen the stakeholder engagement in the regulatory process and leverage industry expertise on a contin...