RBI establishes a Regulatory Review Cell (RRC), effective from October 1, 2025, to systematically review all banking regulations every five to seven years.
The RRC will function under the Department of Regulation and conduct phased reviews of rules affecting banks and other regulated entities.
An independent Advisory Group on Regulation (AGR) has been formed to bring external expert feedback into the review process.
The six-member AGR aims to enhance stakeholder engagement and leverage industry expertise, with an initial tenure of three years, renewable for an additional two years.