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<h1>RBI proposes repealing ~9,000 circulars by consolidating rules into 238 Master Directions to cut regulatory burden.</h1> Proposes repeal of about 9,000 circulars by consolidating existing regulatory instructions into 238 Master Directions across 11 types of regulated entities and up to 30 functional areas, undertaken on an 'as is' basis to reduce regulatory burden and compliance costs; draft consolidation documents have been released for public comment.