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

Published on April 16, 2021
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.
RBI Setup Regulations Review Authority (RRA 2.0) for 1 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


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
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