The Regulations Review Authority (RRA 2.0) has recommended the withdrawal of additional 100 circulars in the second tranche of recommendations even as it suggested elimination of paper based returns.
- The RRA had recommended the withdrawal of 150 circulars in the first tranche of recommendations made in November 2021.
About Regulations Review Authority (RRA)
- The Regulations Review Authority (RRA 2.0) was set up by the RBI in April 2021 with an objective to reduce the compliance burden on Regulated Entities (REs).
- The objective of RRA 2.0 is to review the regulatory instructions, removing redundant and duplicate instructions, reduce the compliance burden on REs by streamlining reporting structure, revoking obsolete instructions, and wherever possible obviating paper based submission of returns.
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