The Reserve Bank of India (RBI) on Friday completed the exercise of consolidating 9,445 circulars into 244 function-wise master directives covering 11 categories of regulated entities. This move is expected to enhance clarity, improve accessibility, and reduce the compliance burden for regulated entities, thereby easing the process of doing business, RBI said in a statement. Speaking to the media, Deputy Governor S.C. Murmu said that 3,809 circulars have been incorporated into master circulars, while 5,673 were classified as obsolete and are no longer operative. The oldest circular repealed was on “Advances against government securities,” issued on April 24, 1944.