RBI has undertaken a comprehensive exercise of consolidating the regulatory instructions, on ‘as is’ basis. The existing universe of regulatory instructions issued up to 9th October 2025 have been consolidated into 238 Master Directions, across 11 types of regulated entities on up to 30 functions / areas. Approximately 9000 circulars (including Master Circulars / Master Directions) will be repealed. This exercise is expected to significantly improve the accessibility of regulatory instructions for the regulated entities, thereby reducing their compliance cost. It will also improve the clarity on applicability of each instruction to a regulated entity. The feedback/comments from stakeholders are invited.