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Banking
> Articles> The Regulations Review
Authority
Regulations Review Authority
Dr. Y.V. Reddy, Deputy Governor, Reserve Bank of India has been appointed as the Regulations
Review Authority.
The purpose of this Authority is to provide an opportunity to the public at large to seek justification
for and suggest deletion or modification of any regulation, circular or return issued, or required by
the Reserve Bank.
Anyone can apply to the Regulations Review Authority - a citizen, a non-resident Indian, an
institution (including banks) an association, an academic or even an RBI employee. It is not
necessary for the applicant to be an affected party.
There is no prescribed form for making an application. The applicant may simply put down the
details on a plain white paper. The application would no doubt contain the name and address of
the applicant, the suggestion made and its justification, in as much detail as possible, with an
illustration to enable the Authority to take an expeditious view on the application.
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