<h1>FIPB to be phased out; new bill to protect investors; NBFCs join IPOs; financial cybersecurity team established.</h1> The Foreign Investment Promotion Board (FIPB) will be phased out in the next fiscal year as part of reforms in foreign direct investment (FDI) policy, with over 90% of FDI now through the automatic route. A new bill will be introduced in Parliament to protect investors from fraudulent deposit schemes. High net worth non-banking financial companies (NBFCs) will be allowed to participate in initial public offerings (IPOs) alongside banks and insurance companies. Additionally, a Computer Emergency Response Team for the financial sector will be established to enhance cybersecurity. Measures to improve ease of business and integrate financial markets are also planned.