**Policy Summary: Withdrawal of Redundant Circulars by the Reserve Bank of India**
On November 16, 2021, the Reserve Bank of India (RBI) issued notification RBI/2021-22/128 DoR.RRA.6901/01.101/2021-22, announcing the withdrawal of several redundant circulars, effective from the close of business on the same day. This action stems from the interim recommendations of the Regulations Review Authority (RRA 2.0). The withdrawn circulars, listed in the Annex to the notification, pertain to various banking operations and regulatory matters. The circulars being withdrawn range in date from November 28, 1969, to May 29, 1995, and affect all Scheduled Commercial Banks, Payments Banks, Small Finance Banks, and Local Area Banks. The key contact person for this notification is Neeraj Nigam, Chief General Manager-in-Charge.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Regulations Review Authority 2.0: An initiative by the Reserve Bank of India to streamline regulations and reduce redundancy.
Scheduled Commercial Banks: A category of banks in India regulated by the Reserve Bank of India.
Payments Banks: A type of bank in India allowed to accept deposits and provide payment services, but with restrictions on lending.
Small Finance Banks: A type of bank in India focused on providing financial services to underserved populations.
Local Area Banks: A type of private sector bank in India operating in a specific geographic area.
Neeraj Nigam: Chief General Manager-in-Charge at Reserve Bank of India
DBOD: Department of Banking Operations and Development, a department of the Reserve Bank of India.
भारतीय �रज़व� ब�क
RESERVE BANK OF INDIA
RBI/2021-22/128
DoR.RRA.69/01.01.101/2021-22 November 16, 2021
All Scheduled Commercial Banks
All Payments Banks
All Small Finance Banks
All Local Area Banks
Madam/Dear Sir
Regulations Review Authority (RRA) 2.0 – Interim Recommendations –
Withdrawal of Redundant Circulars
Please refer to the Press Release dated November 16, 2021 issued on the captioned
subject.
2. The circulars listed in the Annex are withdrawn with effect from close of business
today.
Yours faithfully
(Neeraj Nigam)
Chief General Manager-in-Charge
Encl: As aboveAnnex
S. No. Circular No Date
1 DBOD.No.Ret.294/C.110-67 November 28,1969
2 DBOD.No.Ret.BC.138/C.254-76 December 01,1976
3 DBOD.No.BL.BC.9/C.555 (A)-80 January 09,1980
4 DBOD.No.FOL.BC.103/C.249-82 November 08,1982
5 DBOD.No.Ret.BC.109/C.254-82 November 27,1982
6 DBOD.No.Fol.1246(A)/C.249-93 October 24,1983
7 DBOD.No.GC.SIC.BC.115/C.739(A-1)-84 December 03,1984
8 DBOD.No.Fol.BC.27/C.249-87 September 02,1987
9 DBOD.No.Ret.BC.64/C.254-87 November 24,1987
10 DBOD.No.Ret.BC.68/C.254-89 February 02,1989
11 DBOD.No.Ret.BC.22/C.254-90 September 27,1990
12 DBOD.No.Rabha.1722/C.486/53-91 June 29, 1991
13 DBOD.No.Rabha.240/C.486 (53)-91 October 24, 1991
14 DBOD.No.Rabha.BC.65/C.486(53)-91 December 27, 1991
15 DBOD.No.BC.122/06.02.06/92 April 23, 1992
16 DBOD.No. BC.27/06.02.01/94 March 8,1994
17 DBOD.No. BC.286/06.02.01/95 January 30,1995
18 DBOD.No.BC.61/12.05.001/94-95 May 29,1995