The Reserve Bank of India (RBI), which encourages innovation in the banking sector, had warned about potential friction between innovative firms and regulatory bodies.
Will target 6,000 compliance norms, says DPIIT secretary
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Will target 6,000 compliance norms, says DPIIT secretary
PTI / Mar 10, 2021, 14:56 IST
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NEW DELHI: As many as 6,000 compliance norms have been identified so far at state and central level and the work is going on to reduce these barriers to further promote ease of doing business for the industry, a top government official said on Tuesday.
Secretary in the department for promotion of industry and internal trade (DPIIT) Guruprasad Mohapatra said that a systematic exercise across the Centre and states is being undertaken to eliminate or reduce compliances, which have an adverse impact on time and cost of businesses.