In continuation of the Framework for Formulation of Regulations¹, the Reserve Bank of India has decided to strengthen the institutional mechanism for review of regulations² and has constituted a Regulatory Review Cell (RRC).

2. 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 5 to 7 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.

3. 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. The composition of the AGR is as follows:

The 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.

(Puneet Pancholy)     
Chief General Manager

Press Release: 2025-2026/1111