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The Department of Financial Services (DFS) recently conducted a webinar called "Regulatory, investment, and ease of doing business (EODB) reforms" which included members of the finance department, insurers, regulators, banks, industry associations, among others.
During the webinar, the Minister of State for Finance (MoS) Pankaj Chaudhary said that the much-awaited Insurance Laws Amendment Bill will soon be presented. The MoS also said that the increase in the Foreign Direct Investment (FDI) limit will help increase both insurance penetration and coverage.
Also speaking at the webinar, the Secretary of DFS, M. Nagaraju, said that to help in order to help the pension sector, the DFS is planning a forum for regulators and authorities to collaborate.
The webinar also discussed plans to bring in KYC simplification for the financial services sector.