<h1>Finance Minister Calls for Overhaul of India's Financial Regulations, Advocates Principles-Based Approach to Address Overlaps and Inefficiencies.</h1> The Union Finance Minister highlighted the challenges posed by the multitude of financial regulations in India, which have led to regulatory overlaps and inefficiencies. Speaking at a seminar, he discussed the report by the Financial Sector Legislative Reforms Commission, which recommends a shift to a non-sectoral, principles-based regulatory approach. The report suggests restructuring financial laws to address gaps and overlaps, advocating for independent regulators and ownership neutrality. The Minister acknowledged dissenting opinions on certain recommendations and emphasized the need for legislative reform, capacity building, and public engagement to create a robust financial regulatory system for the future.