In a move to simplify compliance, the Reserve Bank of India (RBI) has consolidated its existing regulatory instructions into 238 Master Directions for 11 types of regulated entities across 30 areas. In a statement issued today, the RBI said that the exercise covers instructions issued up to 9th October, this year and will result in the repeal of around 9,000 circulars, including previous Master Circulars and Directions. The RBI said this will make regulations easier to access, reduce compliance costs, and improve clarity for regulated entities.

It further said the draft consolidated Master Directions and the list of circulars to be repealed have been placed on the RBI website for public comments. Feedback can be submitted through the ‘Connect 2 Regulate’ section or by email by November 10. The RBI clarified that comments should focus only on the completeness and accuracy of the drafts, and not on modifications or review of the instructions.