According to Ramesh Damani, member BSE, financial sector reforms as well as disinvestment should take place as it will be good for the sector and the economy as a whole.

The coming Budget should give some signal as far as reforms are concerned, Damani said.

Last year, the government tabled the Insurance Reforms Bill in the Rajya Sabha aimed at increasing the cap on foreign investment in private companies in the sector from 26 per cent to 49 per cent.