- The Reserve Bank of India (RBI) announced on Friday that it plans to streamline the current set of regulatory instructions into 238 master circulars, covering 11 types of regulated entities across nearly 30 areas, with a deadline set for October 9, 2025.
- This initiative is part of a broader effort by the central bank to consolidate the regulatory guidelines managed by the Department of Regulation, maintaining the existing framework as it stands.
- As a result, around 9,000 circulars overseen by the Department of Regulation will be repealed, according to the RBI.
- They noted, “This initiative is expected to greatly enhance the accessibility of regulatory instructions for the entities involved, ultimately lowering their compliance costs.
- Additionally, having consolidated instructions tailored for each type of regulated entity will clarify how each instruction applies to them.” The central bank explained that this consolidation effort builds on the work done by the Regulations Review Authority (RRA), which was established to assess regulations, circulars, and reporting systems based on input from the public, banks, and financial institutions.
The Reserve Bank of India (RBI) announced on Friday that it plans to streamline the current set of regulatory instructions into 238 master circulars, covering 11 types of regulated entities across nearly 30 areas, with a deadline set for October 9, 2025.
This initiative is part of a broader effort by the central bank to consolidate the regulatory guidelines managed by the Department of Regulation, maintaining the existing framework as it stands.
As a result, around 9,000 circulars overseen by the Department of Regulation will be repealed, according to the RBI. They noted, “This initiative is expected to greatly enhance the accessibility of regulatory instructions for the entities involved, ultimately lowering their compliance costs. Additionally, having consolidated instructions tailored for each type of regulated entity will clarify how each instruction applies to them.”
The central bank explained that this consolidation effort builds on the work done by the Regulations Review Authority (RRA), which was established to assess regulations, circulars, and reporting systems based on input from the public, banks, and financial institutions.
The RRA recommended the withdrawal of 714 circulars and suggested either discontinuing, merging, or converting 65 returns to an online submission format.