Mumbai, Oct 10 (PTI) The Reserve Bank of India (RBI) on Friday proposed to repeal about 9,000 circulars to reduce the regulatory burden and compliance costs, apart from timely re-evaluation of the currency of existing instructions.

The RBI said it has constantly endeavoured to optimise the regulatory framework with a focus inter alia on reducing the regulatory burden and compliance costs, apart from timely re-evaluation of the currency of existing instructions.

In a statement, the central bank further said it has undertaken a comprehensive exercise of consolidating the regulatory instructions currently administered by the Department of Regulation, on an ‘as is’ basis.

The existing universe of regulatory instructions issued up to October 9, 2025, have been consolidated into 238 Master Directions, across 11 types of regulated entities on up to 30 functions / areas, it said.

"Consequently, approximately 9,000 circulars (including Master Circulars / Master Directions) administered by the Department of Regulation will be repealed," the RBI said.

The central bank has sought comments on draft documents for consolidating the circulars.

Over the past few decades, under the prevailing regulatory paradigms at various points in time and following a progressive expansion of regulatory perimeter, a plethora of directions have been issued by the Reserve Bank under statutory powers conferred under multiple Acts, which were made applicable to regulated entities to varying degrees.

While increase in complexity of regulatory framework over time is a natural process, fragmentation in regulatory and supervisory powers / jurisdictions over certain regulated entities and gaps in clear or formal supersession or repeal of previous directions when new directions were issued have added to the complexity of the regulatory framework, the RBI said.

The present exercise of consolidation carries forward the work carried out by the Regulations Review Authority (RRA), which was set up for reviewing the regulations, circulars, and reporting systems based on the feedback from the public, banks and financial institutions, it added. PTI NKD NKD MR

RBI proposes repealing ~9,000 circulars by consolidating rules into 238 Master Directions to cut regulatory burden. 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.