■ RBI sets up authority to review regulations:
◇ The Reserve Bank of India (RBI) has set up the Regulations Review Authority 2.0.
◇ The authority will review regulatory prescriptions internally as well as by seeking suggestions from RBI-regulated entities for simplification and ease of implementation.
◇ Deputy Governor M. Rajeshwar Rao has been appointed as the Regulations Review Authority. The authority would have validity for a period of one year from May 1.
◇ The RBI had set up a similar authority in 1999 for reviewing regulations, circulars, reporting systems.
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