The RBI has formed a regulating review cell (RRC) as part of its efforts to strengthen the institutional mechanism for assessing the regulations.
The mandate of the RRC, under the leadership of the State Bank of India, director Rana Ashutosh Kumar Singh and consisting of five other members, is to ensure that all regulations issued by RBI are subject to an extensive and systematic internal review every 5 to 7 years, the central bank said in a statement.
The RRC will be set up in the Department of Regulation effect from 1 October 2025 and would carry out the assessment of the regulations in a phased manner.
“In order to strengthen the involvement of stakeholders in the regulation process and the expertise of the industry on a continuous basis, an independent advisory group for regulations (AGR) is formed at the same time, consisting of external experts, to channel feedback from the industry in the periodic assessment of the RRC, said RBI.
The AGR will have the provision to co -do additional experts who are considered appropriate. It will have a first term of office of three years, renewable with a further period of two years, subject to assessment.
The Other Five Members of the RRC Are: TT Srinivasaraghavan, Former Managing Director & Non-Executive Director, Sundaram Finance, Gautam Thakur, Chairman, Saraswat Co-Operative Bank, Shyam Srinivasan, Former DuuvaV, RAVIVECUAL, REMUVERVECEFERVECEFERVECEFERVECEVERVECEVERVECUVERVECUFER, President & Chief Compliance Officer, Jana Small Finance Bank, and NS Kannan, Former Managing Director & Chief Executive Officer, Icici Prudental Life Insurance Company.
According to the framework of the Central Bank for the formulation of the regulations, while the RBI will update, change or withdraw the existing regulations, as necessary, it will periodically carry out an assessment of the instructions of the regulations, in the view of factors such as the mentioned objective (s); Experience gained by supervision, supervision and enforcement actions; Among other things.
The assessment will also take into account relevant orders adopted by courts or stands; Global best practices or standards prescribed by International Standard Setting Bodies; its relevance in a changed environment; the scope for reducing dismissals; And any other factor considered relevant by the bank.
Published on September 17, 2025
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