In continuation of the Framework for Formulation of Regulations, the Reserve Bank of India (RBI) has decided to strengthen the institutional mechanism for review of regulations and has constituted a Regulatory Review Cell (RRC). The mandate of the RRC is to ensure that all the regulations issued by the Bank are subject to a comprehensive and systematic internal review every 5 to 7 years. The RRC shall be set up in the Department of Regulation effect from October 1, 2025 and would undertake the review of regulations in a phased manner. In order to strengthen the stakeholder engagement in the regulatory process and leverage industry expertise on a continued basis, an independent Advisory Group on Regulation (AGR) has been formed concurrently, comprising of external experts, to channel industry feedback into the periodic review of regulations through the RRC.
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