Regulations Review Authority (RRA) of the Reserve Bank of India (RBI) has set up an advisory group that will be assisting the RRA in identifying areas, regulations, guidelines and returns that can be rationalised and submit reports on a regular basis to the RRA mentioning its recommendations.
“The RRA has constituted an Advisory Group, representing members from regulated entities, including compliance officers, to support the RRA in achieving the objective set forth in the terms of reference of RRA 2.0,” said an RBI statement.
The group will be chaired by State Bank of India Managing Director S. Janakiraman. Other members who are a part of the group are T.T. Srinivasaraghavan (former Managing Director and Non-Executive Director, Sundaram Finance), Gautam Thakur (Chairman, Saraswat Co-operative Bank), Subir Saha (Group Chief Compliance Officer, ICICI Bank), Ravi Duvvuru (President and CCO, Jana Small Finance Bank), and Abadaan Viccaji (Chief Compliance Officer, HSBC India).
In a bid to undertake its preparedness, the group is likely to invite feedback and suggestions from all regulated bodies, industry bodies and other stakeholders. The suggestion and feedback are to be sent by June 15.