New Delhi, Nov. 28 -- The Reserve Bank of India unveiled 244 consolidated master directions on Friday, replacing more than 9,400 circulars and guidelines that had accumulated over several decades, according to a statement. This move aims to reduce redundancy and facilitate compliance.

The central bank stated that the exercise, which took five to six months to complete, will bring about a change in how regulations are communicated, interpreted, and implemented, thereby sharply reducing compliance costs and easing access to regulatory instructions for all supervised entities.

"This is only a consolidation, not a change in regulations," deputy governor Shirish Murmu told journalists in a media conference in Mumbai.

"The purpose is to elim...