NEW DELHI: Finance Minister Nirmala Sitharaman has asked financial regulators to relax and simplify investment norms to boost the infrastructure investment instruments and for better coordination to speed up the monetisation project and streamline approvals.
Sitharaman on Friday chaired the meeting of the Financial Stability and Development Council (FSDC) to discuss the general economic scenario and the pending reforms. “Investment in the Infrastructure sector remained the key issue. Most regulators agreed that this is the best way to kickstart the economic recovery and the minister asked for making processes easier for the investors,” a senior official who was aware of the proceedings of the meeting said.
The official claimed that reform in the insolvency process was another issue that cropped up in the meeting which was attended by all the top officials of the finance ministry, and other financial regulators like RBI, SEBI, IRDA and PFRDA and IBBI among others.