30-member RBI team to steer removal of obsolete regulations

The Reserve Bank of India (RBI) has established a 30-member Regulatory Review Cell (RRC) to streamline financial regulations and eliminate obsolete provisions. The RRC will evaluate existing rules, identify redundancies, and sunset outdated provisions, aiming to reduce compliance complexity and enhance transparency. Pratish Kumar, Partner at JSA, welcomed the RRC’s formation, citing its potential to cut through historical clutter and pave the way for a more streamlined regulatory environment, highlighting that legacy clauses still carry legal weight and foster inconsistencies. Read Article