Gautam Thakur, the young Chairman of India’s leading urban cooperative bank– Saraswat Bank has been nominated to a Select Committee of Reserve Bank of India (RBI) as an Advisor Member.
The Reserve Bank of India has set up the second Regulations Review Authority to review the regulatory prescriptions internally as well as by seeking suggestions from the RBI regulated entities and other stakeholders on their simplification and ease of implementation.
Thakur is the lone representative from the UCB fraternity. The RRA, as it is called, consists of who’s who of banking sector as its members. The Committee which is to be headed by S. Janakiraman, MD of State Bank of India would initially function for a period of one year from May 01, 2021.
: Friday, May 7, 2021, 6:26 PM IST
RBIâs Regulatory Review Authority chaired by SBIâs S Janakiraman invites suggestions: What is the responsibility of the authority?
RBIâs Regulatory Review Authority chaired by SBIâs S Janakiraman invites suggestions: What is the responsibility of the authority?
The Reserve Bank of India (RRBI) has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 1, 2021. The group of advisors of the authority has called for feedback and suggestions from the stakeholders.
RBI stated, âTo undertake its preparatory work, the Group has decided to invite feedback and suggestions from all regulated entities, industry bodies and other stakeholders.â
The Reserve Bank on Friday said an advisory group has been constituted to assist the second Regulatory Review Authority (RRA 2.0) which was constituted by the central bank earlier this month to streamline regulations and reduce the compliance burden of regulated entities. Headed by SBI Managing Director S Janakiraman, the advisory group will assist the RRA by identifying regulations, guidelines, and returns that can be rationalised. The RBI has set up the second Regulatory Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, with a view to streamline regulations and reduce the compliance burden of regulated entities.
Reserve Bank of India Deputy Governor M Rajeshwar Rao was appointed as the Regulations Review Authority.
RBI sets up advisory group to assist regulatory review authority
SECTIONS
Last Updated: May 07, 2021, 05:07 PM IST
Share
Synopsis
Headed by SBI Managing Director S Janakiraman, the advisory group will assist the RRA by identifying regulations, guidelines, and returns that can be rationalised.
Reuters
The Reserve Bank on Friday said an advisory group has been constituted to assist the second Regulatory Review Authority (RRA 2.0) which was constituted by the central bank earlier this month to streamline regulations and reduce the compliance burden of regulated entities. Headed by SBI Managing Director S Janakiraman, the advisory group will assist the RRA by identifying regulations, guidelines, and returns that can be rationalised.
RBI s Regulations Review Authority sets up advisory group
By IANS |
3 Views
Reserve Bank of India (RBI). (File Photo: IANS). Image Source: IANS News
Mumbai, May 7 : The Regulations Review Authority of the Reserve Bank of India (RBI) has constituted an advisory group to support it.
The group will assist the RRA by identifying areas, regulations, guidelines and returns which can be rationalised and submit reports periodically to the RRA containing its recommendations. The RRA has constituted an Advisory Group, representing members from regulated entities, including compliance officers, to support the RRA in achieving the objective set forth in the terms of reference of RRA 2.0, said an RBI statement.