It is hoped that with these arrangements, some of the unnecessary elements will be eliminated while enhancing quality of supervision particularly in terms of its utility to the supervised and result in overall reduction of transaction costs. Users’ panel on regulatory instructions A Standing Technical Committee on Financial Regulation has been constituted recently to advise on regulatory regimes administered by RBI.
It is recognised that in spite of existing consultative process, several regulatory instructions, while laudable in their context are not clear or unambiguous in capturing operational issues at the implementation stage.