- On September 17, the Reserve Bank of India (RBI) took a significant step by establishing an independent Advisory Group on Regulation (AGR).
- This group, made up of external experts, aims to gather industry feedback for the ongoing review of regulations through the Regulatory Review Cell.
- The AGR features notable members, including Rana Ashutosh Kumar Singh, Managing Director of the State Bank of India; T.
- Srinivasaraghavan, Former Managing Director and Non-Executive Director of Sundaram Finance; Gautam Thakur, Chairman of Saraswat Co-operative Bank; Shyam Srinivasan, Former Managing Director and CEO of Federal Bank; Ravi Duvvuru, Former President and Chief Compliance Officer of Jana Small Finance Bank; and N.
- Kannan, Former Managing Director and CEO of ICICI Prudential Life Insurance Co, as stated in an RBI release.
On September 17, the Reserve Bank of India (RBI) took a significant step by establishing an independent Advisory Group on Regulation (AGR). This group, made up of external experts, aims to gather industry feedback for the ongoing review of regulations through the Regulatory Review Cell.
The AGR features notable members, including Rana Ashutosh Kumar Singh, Managing Director of the State Bank of India; T. T. Srinivasaraghavan, Former Managing Director and Non-Executive Director of Sundaram Finance; Gautam Thakur, Chairman of Saraswat Co-operative Bank; Shyam Srinivasan, Former Managing Director and CEO of Federal Bank; Ravi Duvvuru, Former President and Chief Compliance Officer of Jana Small Finance Bank; and N. S. Kannan, Former Managing Director and CEO of ICICI Prudential Life Insurance Co, as stated in an RBI release.
In a bid to enhance the review process for regulations, the RBI has also set up a Regulatory Review Cell (RRC), continuing its Framework for Formulation of Regulations.
The RRC’s mission is to ensure that all regulations issued by the Bank undergo a thorough and systematic internal review every 5 to 7 years, according to the RBI release.