RBI replaces 9.5k circulars with 244 master directions
MUMBAI: Reserve Bank of India has hacked through its regulatory rulebook in what it describes as a once-in-a-generation overhaul, consolidating circulars issued over seven decades of instructions into 244 master directions tailored to 11 categories of regulated entities. The exercise has eliminated 9,446 circulars, some dating back to 1944, replacing a dense and scattered web…