A high-powered expert panel set up by the government to suggest a recast of the financial sector laws has recommended a level-playing field for financial firms by doing away with specific laws for public sector entities such as Life Insurance Corporation and State Bank of India. The justice B N Srikrishna headed Financial Sector Legislative Reforms Commission (FSLRC) has mooted incorporation of such entities like others in the sector under the Companies Act to ensure ownership-neutrality in regulation and supervision...........
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