Categories: Banking

RBI to set up Regulations Review Authority for one year

The Reserve Bank of India (RBI) will be set up a new Regulations Review Authority (RRA 2.0) from May 1, 2021, to review the regulations, circulars, reporting systems and compliance procedures of the central bank for streamlining them and making them more effective. The RRA will be set up for a period of one year unless the timeline is extended by the RBI.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

About the Regulations Review Authority:

  • M Rajeshwar Rao, Deputy Governor, RBI will be the head of the Regulations Review Authority.
  • RRA will be tasked with making regulatory and supervisory instructions more effective by removing redundancies and duplications if any.
  • It must be noted that prior to this, a similar RRA was set up by RBI on April 1, 1999, for a period of one year to review the regulations, circulars, reporting systems, based on the feedback from the public, banks, and financial institutions.

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

UPI Payments Enabled Across Uzbekistan Through National UZQR

Indian travelers who visit the Uzbekistan can gets the benefit of making UPI payments at…

4 hours ago

Union Government Receipts Reach ₹13.06 Lakh Crore by July 2026

The Monthly Accounts of the Union Government till July 2026 have been consolidated and published…

5 hours ago

Veligonda Project Phase-I: CM Naidu Inaugurates Key Irrigation Project

After almost thirty years of laying the first stone of the project, Chief Minister of…

6 hours ago

John Ternus Takes Over as Apple CEO From Tim Cook

Apple is set to have leadership change from September 1st, 2026, when John Ternus succeeds…

6 hours ago

India Notified Semicon 2.0 With Major Semiconductor Investment

The Government of India has notified the launch of the Semicon 2.0, wherein the government…

7 hours ago

GST Collections Rise 14.8% to Nearly ₹2 Trillion in August

As per data released by the Ministry of Finance on September 1. The strong annual…

7 hours ago