The Regulations Review Authority of the Reserve Bank of India (RBI) has constituted an advisory group to support it.
The group will assist the RRA by identifying areas, regulations, guidelines and returns which can be rationalized and submit reports periodically to the RRA containing its recommendations.
“The RRA has constituted an Advisory Group, representing members from regulated entities, including compliance officers, to support the RRA in achieving the objective set forth in the terms of reference of RRA 2.0,” said an RBI statement.
State Bank of India Managing Director S. Janakiraman will be the Chairman of the advisory group and the other members are T.T. Srinivasaraghavan (former Managing Director and Non-Executive Director, Sundaram Finance), Gautam Thakur (Chairman, Saraswat Co-operative Bank), Subir Saha (Group Chief Compliance Officer, ICICI Bank), Ravi Duvvuru (President and CCO, Jana Small Finance Bank), and Abadaan Viccaji (Chief Compliance Officer, HSBC India).
Further, to undertake its preparatory work, the group has decided to invite feedback and suggestions from all regulated entities, industry bodies and other stakeholders. The suggestion and feedback will have to be sent by June 15.