RBI regulatory review body wants 100 circulars withdrawn to ease compliance

Advises separate web page for regulatory reporting

The Reserve Bank of India’s Regulations Review Authority (RRA) has advised to withdraw additional 100 circulars to ease the compliance burden on entities under RBI regulatory ambit. 

It had recommended withdrawal of 150 circulars in the first tranche in November 2021.

The RRA has also recommended creation of a separate web page “Regulatory Reporting” in the RBI website to consolidate information relating to regulatory reporting and return submission at a single source.

The RRA has advised elimination of paper-based returns and has identified 65 regulatory returns which would either be discontinued/ merged with other returns or would be converted into