Do expert committees matter? A discarded draft law reveals their influence

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Policy and Media

Do expert committees matter? A discarded draft law reveals their influence

May 16, 2025

K P Krishnan

IAS, Former Secretary, Government of India

The Reserve Bank of India (RBI) last week uploaded an innocuous-sounding document on its website called the “Framework for Formulation of Regulations”. It went largely unnoticed. In the field of regulation, however, it is a development of profound significance.

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