- Reserve Bank of India vide circular dated May 07, 2025, has issued policy statement for Framework for Formulation of Regulations.
- This Framework for Formulation of Regulations (hereinafter referred to as ‘the Framework') lays down the broad principles for formulation and amendment of Regulations by the Reserve Bank of India (hereinafter referred to as "the Bank"). The Framework seeks to standardize the process of making Regulations in a transparent and consultative manner after conducting impact analysis, as may be feasible.
- For the purpose of this Framework, “Regulations” shall include all regulations, directions, guidelines, notifications, orders, policies, specifications, and standards as issued by the Bank in exercise of the powers conferred on it by or under the provisions of the Acts and Rules.
- The Bank may also follow the process laid down in the Framework for any other regulation, direction, guideline, notification, order, policy, specification, or standard made pursuant to any other legal provisions, as deemed fit.
- Before finalizing the Regulation, the Bank shall conduct an impact analysis of the Regulation, to the extent feasible.
- The circular is attached herein.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
