On November 20, 2025, Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS) within the Ministry of Finance, chaired a meeting of the Inter-Departmental Committee (IDC). The committee, which includes representatives from the Ministry of Home Affairs (MHA), the Ministry of External Affairs (MEA), the Department of Commerce (DoC), and the Reserve Bank of India (RBI), convened to discuss proposals related to the establishment of branches, representative offices, and subsidiaries of foreign banks in India. The committee also reviewed proposals from Indian banks seeking to expand their presence abroad. Furthermore, the IDC considered requests from foreign banks seeking to relocate existing branches within India. The DFS serves as the nodal authority for evaluating proposals from both foreign and domestic banks, consulting with member ministries to ensure a comprehensive and consensus-based approach before making recommendations. The Release ID is 2192049, and the visitor counter is at 7398.
Key Entities Referenced
Inter-Departmental Committee (IDC): Committee that deliberates on proposals related to the establishment or relocation of foreign bank branches, representative offices, and subsidiaries in India.
Department of Financial Services (DFS): Nodal authority under which the IDC functions, responsible for evaluating proposals from both foreign and domestic banks.
Reserve Bank of India (RBI): Regulator whose proposals concerning the establishment of branches, representative offices and subsidiaries of foreign banks in India are reviewed.
Ministry of Home Affairs (MHA): Member ministry consulted by the Inter-Departmental Committee (IDC).
Ministry of External Affairs (MEA): Member ministry consulted by the Inter-Departmental Committee (IDC).
Ministry of Finance
Secretary, DFS chairs Inter-Departmental
Committee meeting with member ministries of
MHA, MEA, DoC and RBI
Meeting deliberates upon establishment of branches,
representative offices and subsidiaries of foreign banks in
India
Posted On: 20 NOV 2025 2:38PM by PIB Delhi
The Secretary, Department of Financial Services, Ministry of Finance, Shri M. Nagaraju chaired the
Inter-Departmental Committee (IDC) meeting today. It included 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 Inter-Departmental Committee (IDC) convened the meeting to deliberate on proposals received
from the Reserve Bank of India (RBI) concerning the establishment of branches, representative
offices and subsidiaries of foreign banks in India. In parallel, the Committee also reviewed proposals
from Indian banks seeking to expand their presence abroad through similar arrangements.Furthermore, the IDC examined requests from foreign banks for relocation of their existing branches
within India. After due consideration, the Committee recommended the proposals placed before it.
The IDC functions under the Department of Financial Services (DFS), which serves as the nodal
authority for evaluating such proposals from both foreign and domestic banks. Before arriving at its
recommendations, the Committee consults with member ministries including the Ministry of Home
Affairs (MHA), the Ministry of External Affairs (MEA), and the Department of Commerce (DoC) to
ensure a comprehensive and consensus-based approach.
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(Release ID: 2192049) Visitor Counter : 7398
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