RBI replaces 9.5k circulars with 244 master directions
RBI replaces 9.5k circulars with 244 master directions
The Reserve Bank of India has undertaken a massive overhaul, consolidating over seven decades of regulations into 244 master directions. This significant move eliminates 9,446 circulars, simplifying compliance for lenders and enhancing ease of doing business. The reform aims to clarify rules, including a new digital banking directive requiring explicit consent and transaction alerts.
The Reserve Bank of India has undertaken a massive overhaul, consolidating over seven decades of regulations into 244 master directions. This significant move eliminates 9,446 circulars, simplifying compliance for lenders and enhancing ease of doing business. The reform aims to clarify rules, including a new digital banking directive requiring explicit consent and transaction alerts.
The Reserve Bank of India has undertaken a massive overhaul, consolidating over seven decades of regulations into 244 master directions. This significant move eliminates 9,446 circulars, simplifying compliance for lenders and enhancing ease of doing business. The reform aims to clarify rules, including a new digital banking directive requiring explicit consent and transaction alerts. 
