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RBI voids 100 redundant circulars


The RBI withdrew these circulars following recommendations by the Regulations Review Authority

The Reserve Bank of India (RBI) on Tuesday withdrew more than 100 redundant circulars following recommendations by the Regulations Review Authority. The circulars relate to certain norms concerning investments by Foreign Portfolio Investors, RTGS, Know Your Customer and Anti-Money Laundering / Combating of Financing of Terrorism – Standards.

The Regulations Review Authority (RRA 2.0) was set up by the RBI in April to review regulatory instructions, remove redundant ones, reduce the compliance burden by streamlining reporting structure and wherever possible, obviate paper-based submission of returns.

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