New Delhi, Delhi, 2nd of January, 2026 : The Secretary of Department of Financial Services, Shri M Nagaraju chaired the Inter-Departmental Committee (IDC) meeting today. It was attended by member ministries/departments i.e. Ministry of Home Affairs (MHA), Ministry of External Affairs (MEA), Department of Commerce (DoC) and the Reserve Bank of India (RBI). The meeting was convened to consider proposals received from RBI in respect of foreign banks desirous of opening their branches/ representative offices/subsidiaries in India.
During the meeting, after due deliberations, the Committee recommended the proposals placed before it.
IDC is a committee wherein the Department of Financial Services (DFS), as the nodal Department, evaluates proposals received from foreign and domestic banks. Before reaching a consensus, the committee consults the proposal with member ministries/departments i.e. MHA, MEA & DoC seeking their inputs in the matter from security, political and economic angles respectively.
About The Author
More Stories
Manglam Group Expands Hospitality Footprint With Rs. 350 Crore Investment In Sheraton Hotel On Jaipur–Ajmer Highway.
UAi University Chancellor Tarun Anand Successfully Completes Annapurna Base Camp Trek, Reaching An Altitude Of 13,550 Feet.
Golden Growth Fund Closes Maiden AIF With Rs 101 Crore AUM; NAV Rises 61% Since Launch.