The Reserve Bank of India (RBI) announced on Wednesday, September 17, 2025, the establishment of an independent panel. This initiative aims to deepen engagement with stakeholders and consistently tap into valuable industry expertise within the regulatory process.
This new body, named the Advisory Group on Regulation (AGR), consists of external experts. Its primary role is to funnel crucial industry feedback into the regular review of regulations, a task overseen by the newly formed Regulatory Review Cell (RRC).
Leading this significant advisory group will be Rana Ashutosh Kumar Singh, the Managing Director of the State Bank of India.
The AGR is empowered to bring in additional experts as needed. It will initially serve for a three-year term, with the possibility of an extension for another two years.
The RRC’s core responsibility is to ensure that all existing RBI regulations undergo a thorough and systematic internal review every five to seven years.
The Regulatory Review Cell will officially commence operations within the Department of Regulation starting October 1, 2025, and plans to conduct these regulatory reviews in a structured, phased approach.