The Reserve Bank of India vide circular dated February 18, 2022 has issued the Interim Recommendations- Second tranche from Regulations Review Authority (RRA 2.0). RRA has now recommended withdrawal of additional 100 circulars in the second tranche of recommendations. RRA has recommended elimination of paper-based returns and has identified 65 regulatory returns which would either be discontinued/ merged with other returns or would be converted into online returns.
The RRA has also recommended creation of a separate web page “Regulatory Reporting” in the RBI website to consolidate information relating to regulatory reporting and return submission by the regulated entities at a single source.
