RBI Sets Up New Internal Mechanism to Review Regulations Periodically

Current Context: On 17 Sept 2025, the Reserve Bank of India (RBI) announced the creation of a Regulatory Review Cell (RRC) under its Department of Regulation, effective 1 Oct 2025.

• The RRC will ensure that all RBI regulations are reviewed every 5–7 years for relevance, efficiency, and global alignment.
• It will be chaired by Rana Ashutosh Kumar Singh (MD, SBI), with five other senior experts from banking, NBFCs, and insurance.
• A parallel Advisory Group on Regulation (AGR) of external experts will provide industry feedback into the review process.
• The review will consider objectives, supervisory experience, court rulings, global best practices, and redundancies.
• The AGR will have a 3-year tenure (extendable by 2 years), ensuring continuity in regulatory reforms.

Question:

Q.1 Who has been appointed as the Chairperson of the Reserve Bank of India (RBI) Regulatory Review Cell (RRC)?
a) M. Rajeshwar Rao (Deputy Governor, RBI)
b) Shaktikanta Das (Governor, RBI)
c) Rana Ashutosh Kumar Singh (Managing Director, State Bank of India)
d) T. Rabi Sankar (Deputy Governor, RBI)

Answer: c) The Reserve Bank of India (RBI) appointed Rana Ashutosh Kumar Singh, MD of State Bank of India (SBI), as Chairperson of the RRC.