IDC Reviews Foreign And Indian Bank Expansion Proposals
ECONOMY & POLICY

IDC Reviews Foreign And Indian Bank Expansion Proposals

The Secretary of the Department of Financial Services (DFS), Ministry of Finance, M. Nagaraju, chaired a meeting of the Inter-Departmental Committee (IDC) today. The session was attended by representatives from the Ministry of Home Affairs (MHA), Ministry of External Affairs (MEA), Department of Commerce (DoC) and the Reserve Bank of India (RBI).

The IDC met to review proposals submitted by the RBI regarding the establishment of branches, representative offices and subsidiaries of foreign banks in India. In parallel, it examined proposals from Indian banks seeking approval to expand their operations overseas through similar structures.

The Committee also considered requests from foreign banks to relocate their existing branches within India. After detailed deliberation, the IDC recommended the proposals placed before it.

Functioning under the DFS, the IDC serves as the nodal body responsible for evaluating applications from both foreign and domestic banks. Its recommendations are based on consultations with member ministries — including MHA, MEA and DoC — to ensure that decisions reflect a comprehensive and consensus-driven approach.

The Secretary of the Department of Financial Services (DFS), Ministry of Finance, M. Nagaraju, chaired a meeting of the Inter-Departmental Committee (IDC) today. The session was attended by representatives from the Ministry of Home Affairs (MHA), Ministry of External Affairs (MEA), Department of Commerce (DoC) and the Reserve Bank of India (RBI). The IDC met to review proposals submitted by the RBI regarding the establishment of branches, representative offices and subsidiaries of foreign banks in India. In parallel, it examined proposals from Indian banks seeking approval to expand their operations overseas through similar structures. The Committee also considered requests from foreign banks to relocate their existing branches within India. After detailed deliberation, the IDC recommended the proposals placed before it. Functioning under the DFS, the IDC serves as the nodal body responsible for evaluating applications from both foreign and domestic banks. Its recommendations are based on consultations with member ministries — including MHA, MEA and DoC — to ensure that decisions reflect a comprehensive and consensus-driven approach.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code