With reference to the Regulations Review Authority, which of the following statements is/are correct?1. The Ministry of Finance has set up a Regulations Review Authority (RRA 2.0).2. RRA 2.0 seeks to streamline the regulatory instructions, reducing the compliance burden of the entities under regulations.3. Regulated entities include commercial banks, urban co-operative banks, Non-Banking Financial Companies.4. RRA examines and suggests the changes required in the dissemination process of RBI (Reserve Bank of India) circulars/ instructions.Select the correct answer using the code given below:a)1 and 2 onlyb)2, 3 and 4 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?

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With reference to the Regulations Review Authority, which of the following statements is/are correct?

1. The Ministry of Finance has set up a Regulations Review Authority (RRA 2.0).

2. RRA 2.0 seeks to streamline the regulatory instructions, reducing the compliance burden of the entities under regulations.

3. Regulated entities include commercial banks, urban co-operative banks, Non-Banking Financial Companies.

4. RRA examines and suggests the changes required in the dissemination process of RBI (Reserve Bank of India) circulars/ instructions.

Select the correct answer using the code given below:

a)
1 and 2 only
b)
2, 3 and 4 only
c)
2 only
d)
1, 2 and 3

Correct answer is option 'B'. Can you explain this answer?

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With reference to the Regulations Review Authority, which of the follo...

The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0). Hence, statement 1 is not correct.
RRA 2.0 will reduce the compliance burden of the entities under regulations. The RRA 2.0 will achieve this by simplifying procedures and reducing reporting requirements wherever possible. Hence, statement 2 is correct.
Regulated Entity is subject under law to any of the laws, rules or regulations respecting the financial, organizational or rate regulation of electric companies, public utilities, or public utility holding companies. Commercial banks, urban co-operative banks, non-banking financial companies come under regulated entities. Hence, statement 3 is correct.
RRA examines and suggests the changes required in dissemination process of RBI circulars/ instructions (this would entail suggestions on the areas where the manner of issuing circulars, updating and website linkages). Hence, statement 4 is correct.

Answered by Notes Wala · View profile

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With reference to the Regulations Review Authority, which of the following statements is/are correct?1. The Ministry of Finance has set up a Regulations Review Authority (RRA 2.0).2. RRA 2.0 seeks to streamline the regulatory instructions, reducing the compliance burden of the entities under regulations.3. Regulated entities include commercial banks, urban co-operative banks, Non-Banking Financial Companies.4. RRA examines and suggests the changes required in the dissemination process of RBI (Reserve Bank of India) circulars/ instructions.Select the correct answer using the code given below:a)1 and 2 onlyb)2, 3 and 4 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?

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