Gautam Thakur, Chairman of Saraswat Co-operative Bank Ltd., has brought laurels not only to his institution but also to the co-operative banking sector at large by being inducted as a Member of the newly formed Advisory Group on Regulation (AGR) set up by the Reserve Bank of India (RBI).
The Advisory Group on Regulation is a high-level body created to strengthen stakeholder participation in the regulatory process and provide expert industry inputs for periodic reviews.
The Group is chaired by Rana Ashutosh Kumar Singh, Managing Director, State Bank of India, and includes eminent financial leaders such as T. T. Srinivasaraghavan (Former MD & Non-Executive Director, Sundaram Finance Ltd.), Shyam Srinivasan (Former MD & CEO, Federal Bank Ltd.), Ravi Duvvuru (Former President & Chief Compliance Officer, Jana Small Finance Bank Ltd.), N. S. Kannan (Former MD & CEO, ICICI Prudential Life Insurance Co. Ltd.), along with Gautam Thakur.
The group has been given an initial tenure of three years, which may be extended for an additional two years, subject to review. It also carries the flexibility to co-opt additional experts as deemed necessary, reflecting RBI’s consultative and inclusive approach towards regulation.
This development comes alongside RBI’s move to bolster its regulatory framework through the establishment of a Regulatory Review Cell (RRC) in the Department of Regulation, effective October 1, 2025. The RRC will ensure that all regulations issued by RBI are subjected to a systematic internal review every 5 to 7 years, making them more adaptive to evolving financial sector dynamics.
The AGR will act as a channel for industry feedback, ensuring that diverse viewpoints are integrated into the regulatory review process.
Thakur’s appointment has also created a buzz on social media, where admirers and well-wishers were quick to celebrate the recognition. Messages poured in congratulating him for his achievement, with one follower writing: “Congratulations Gautam Thakur ji on being appointed Member of the Advisory Group on Regulation by RBI! Your expertise will be invaluable.”
It is pertinent to recall that in May 2025, RBI had issued a comprehensive Framework for Formulation of Regulations, which laid down guiding principles for drafting and amending regulations in a transparent and consultative manner.
The framework emphasizes public consultation, impact analysis, and regular review of regulations, while allowing flexibility in urgent or confidential cases. By institutionalizing such mechanisms, RBI reaffirmed its commitment to accountability, openness, and global best practices in regulation-making.
Gautam Thakur’s induction into the AGR not only underscores the rising stature of Saraswat Bank but also signals the growing recognition of the co-operative banking sector’s role in shaping India’s financial architecture.
