New Delhi, Sept. 26 -- While pointing towards the prolonged implementation timeline outlined in the latest regulatory overhaul proposed by the Insurance Regulatory and Development Authority of India (IRDAI), author and financial educator Monika Halan noted that the insurance industry will not do anything unless there is a hard deadline which is closed.

Speaking exclusively to ANI in an interview, Halan argued that the proposed transition period offers insurers too much leeway to delay critical consumer protection measures.

"It's a long road ahead. There is nothing going to happen. In any case, the glide path is 2 years and 5 years. I think it is too long. If the regulator understands that mis-selling and bad sales are happening, I think...