RBI Setup Regulations Review Authority (RRA 2.0) for 1 Year

Current Context: The Reserve Bank of India (RBI) has set up a new Regulations Review Authority (RRA 2.0) for a period of one year.

• The RRA will perform the review of regulations and compliance procedures of a central bank.
• This will help to make regulations and compliance procedures more effective
• The RRA will be set up from 1st May 2021 for 1 year and its timeline, if needed, will be extended by the RBI
• The RRA will be headed by M Rajeshwar Rao, RBI’s Deputy Governor
• The RRA 2.0 will be tasked with making regulatory and supervisory instructions more effective by removing redundancies and duplications
• It will also work to get feedback from regulated entities on simplification of procedures and enhancement of ease of compliance.
• It will suggest changes if any in disseminating RBI circulars. It will work coordinately by engaging itself with external and internal entities and stakeholders to perform its task
• Static Part: 
• HQ of RBI: Mumbai
• Governor of RBI: Shaktikanta Das

Question: 

Q: 1: Who among the following to head Regulations Review Authority (RRA 2.0) which is setup by RBI?
a. M K Jain
b. Dr. M D Patra
c. M Rajeshwar Rao
d. B P Kanungo