The Reserve Bank of India (RBI) on Friday unveiled 244 consolidated regulatory directions, marking one of the biggest overhauls of financial sector norms in recent years. The announcement was made during a press briefing addressed by Deputy Governor Shirish Chandra Murmu.
Murmu said the consolidated framework brings together rules that apply to banks, lenders, asset reconstruction companies, financial institutions, and credit information bureaus, simplifying the regulatory landscape.
He also recalled that on October 10, the RBI had placed 235 draft regulations on its website to seek public feedback before moving ahead with the consolidation exercise.
What has changed?
According to the Deputy Governor:
- 244 consolidated regulations will be issued today and come into immediate effect
- Bank licensing norms have now been merged and simplified
- Rules covering lenders, ARCs, financial institutions and credit bureaus have been unified
- The new set includes digital banking guidelines, which were previously scattered across multiple circulars
The move is aimed at reducing fragmentation, improving compliance clarity, and making India’s regulatory ecosystem more robust and easier for institutions to navigate.
More detailed guidelines are expected to be released on RBI’s official website later today.
