2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Michael Patra
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Yogesh Dayal
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Mahesh Kumar Jain
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M Rajeshwar Rao
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Detailed explanation-1: -Deputy Governor, Shri M. Rajeshwar Rao was appointed as the Regulations Review Authority. The RRA 2.0 was set up for a period of one year starting from May 01, 2021.
Detailed explanation-2: -Further, on the suggestions of an internal group (Chairman: Dr. O.P. Mall, Executive Director) the RRA has recommended elimination of paper-based returns and has identified 65 regulatory returns which would either be discontinued/ merged with other returns or would be converted into online returns.
Detailed explanation-3: -The RRA 2.0 will achieve this by simplifying procedures and reducing reporting requirements wherever possible. The RBI had set up RRA 2.0 in 2021 year to reduce the compliance burden on the regulated entities and streamline regulatory instructions.
Detailed explanation-4: -Besides the governor, the RBI has four deputy governors. The three other deputy governors of the bank are M K Jain, M Rajeshwar Rao and T Rabi Sankar.