RBI plans to repeal 9,000 circulars by consolidating regulations
RBI consolidated its existing regulatory instructions into 238 Master Directions for 11 types of regulated entities across 30 areas in a move to simplify compliance. The exercise will result in the repeal of around 9,000 circulars, including previous Master Circulars and Directions. This will make regulations easier to access, reduce compliance costs, and improve clarity for regulated entities.