RBI replaces 9.5k circulars with 244 master directions

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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.

from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/2zoXDTy

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