Archive · 20 Nov 2025
IDC Meets to Deliberate on RBI's Foreign Bank Proposals
The Indian government held a meeting to discuss and decide on proposals from the Reserve Bank of India (RBI) about foreign banks opening branches and offices in India.
They also looked at Indian banks expanding abroad and foreign banks moving their branches within India.
The meeting involved many government departments and ended with recommendations for each proposal.
M Nagaraju, DFS Secretary, chaired the Inter-Departmental Committee (IDC) meeting
Meeting discussed proposals from RBI regarding foreign banks' branches, offices, and subsidiaries in India
IDC reviewed Indian banks' proposals to expand abroad and foreign banks' requests to relocate branches within India
Committee recommended proposals after due consideration
IDC held consultations with MHA, MEA, and DoC for a comprehensive approach
- Who
- M Nagaraju, DFS Secretary, chaired the Inter-Departmental Committee (IDC) meeting with member ministries and departments, including MHA, MEA, DoC, and RBI
- What
- IDC deliberated on proposals from RBI concerning foreign banks' presence in India and Indian banks' expansion abroad
- When
- Thursday
- Where
- Not specified
- Why
- To consider and recommend proposals from RBI and Indian banks
- Committee
- Inter-Departmental Committee (IDC)
- Chairperson
- M Nagaraju, DFS Secretary
- Date
- Thursday
- Participants
- Member ministries and departments, including MHA, MEA, DoC, RBI, and Indian banks' representatives
- Topics Discussed
- RBI's proposals for foreign banks, Indian banks' expansion abroad, foreign banks' branch relocation
