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RBI is simplifying its rules for banks—what's going on?
The Reserve Bank of India (RBI) just announced it's merging over 8,000 old regulations into 33 clear categories.
About 5,000 outdated rules are getting tossed, and the rest will be streamlined into a more straightforward framework.
Governor Sanjay Malhotra says this should make life way less complicated for banks and financial companies.
Fewer rules mean more focus on real decisions
If you hate paperwork, you'll get it—banks have been drowning in nearly 100 board-approved policies each.
This overhaul means less admin hassle and more focus on real decisions.
Plus, RBI is setting up a review team to keep these rules fresh every few years, so things don't get messy again.