Group of Advisors to RBI’s Regulations Review Authority invites feedback and suggestions, BFSI News, ET BFSI
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The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0) initially for a period of one year from May 01, 2021. The RRA will review the regulatory prescriptions internally and seek suggestions for simplification and ease of implementation from RBI controlled entities and other stakeholders.
The RRA has formed an Advisory Group made up of representatives from regulatory entities, including compliance officers, to help the RRA achieve the objectives set out in RRA 2.0’s terms of reference. The Group will assist by finding areas/regulations/guidelines/returns that can be rationalised and submitting reports to RRA with recommendations/suggestions on a regular basis. The composition of the Group is as under:
| 1. | S. Janakiraman, Managing Director, State Bank of India | Chairman |
| 2. | T. T. Srinivasaraghavan, Former MD & Non-Executive Director, Sundaram Finance | Member |
| 3. | Gautam Thakur, Chairman, Saraswat Co-operative Bank Ltd. | Member |
| 4. | Subir Saha, Group Chief Compliance Officer, ICICI Bank Ltd | Member |
| 5. | Ravi Duvvuru, President & CCO, Jana Small Finance Bank | Member |
| 6. | Abadaan Viccaji, Chief Compliance Officer, HSBC India | Member |
The Group has decided to invite feedback and suggestions from all regulated entities, industry bodies, and other stakeholders to undertake its preparatory work. Suggestions and feedback should be emailed latest by June 15, 2021, with the subject line Suggestions to the Advisory Group of RRA.
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