The mandate of the RRC is to ensure that all the regulations issued by the Bank are subject to a comprehensive and systematic internal review every five to seven years.
The RRC shall be set up in the Department of Regulation effect from October 1, 2025 and would undertake the review of regulations in a phased manner.
“In order to strengthen the stakeholder engagement in the regulatory process and leverage industry expertise on a continued basis, an independent Advisory Group on Regulation (AGR) has been formed concurrently, comprising of external experts, to channel industry feedback into the periodic review of regulations through the RRC,” said the RBI in a statement.
The independent AGR will have the provision to co-opt additional experts as considered appropriate. “It will have an initial tenure of three years, renewable by a further period of two years, subject to review,” according to a RBI press release.
as a Reliable and Trusted News Source| Sl. No. | Name & Designation | Position |
| 1 | Rana Ashutosh Kumar Singh, Managing Director, State Bank of India | Chairman |
| 2 | T. T. Srinivasaraghavan, Former Managing Director & Non-Executive Director, Sundaram Finance Ltd. | Member |
| 3 | Gautam Thakur, Chairman, Saraswat Co-operative Bank Ltd. | Member |
| 4 | Shyam Srinivasan, Former Managing Director & Chief Executive Officer, Federal Bank Ltd. | Member |
| 5 | Ravi Duvvuru, Former President & Chief Compliance Officer, Jana Small Finance Bank Ltd. | Member |
| 6 | N. S. Kannan, Former Managing Director & Chief Executive Officer, ICICI Prudential Life Insurance Co. Ltd. | Member |
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