Following the recommendations of the Regulation Review Authority, RBI withdrew these circulars.
The Reserve Bank of India (RBI) on Tuesday withdrew over 100 unnecessary circulars following the recommendations of the Regulation Review Authority. The circular pertains to certain norms relating to investment by foreign portfolio investors, RTGS, Know Your Customer and Anti-Money Laundering/Combating the Financing of Terrorism – Standards.
The Regulation Review Authority (RRA 2.0) was set up by the RBI in April to review regulatory directions, remove unnecessary, reduce compliance burden by streamlining the reporting structure and prevent paper-based return submission wherever possible. Went.
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