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Informist, Thursday, Nov. 20, 2025

 

NEW DELHI – The inter-departmental committee under the Department of Financial Services on Thursday discussed the Reserve Bank of India's proposal to set up up branches, representative offices, and subsidiares of foreign banks in India. The discussion was part of the committee's meeting held Thursday, chaired by Department of Financial Services Secretary M. Nagaraju.

 

"In parallel, the Committee also reviewed proposals from Indian banks seeking to expand their presence abroad through similar arrangements," the finance ministry said in a release. The committee includes members from the Ministry of Home Affairs, the Ministry of External Affairs, the Department of Commerce, and the RBI.  

 

According to the ministry, the committee also examined requests by foreign banks for relocation of their existing branches within India. "After due consideration, the Committee recommended the proposals placed before it," the release said. 

 

The inter-departmenal committtee functions under the Department of Financial Services, which serves as the nodal authority for evaluating such proposals by both foreign and domestic banks. Before arriving at its recommendations, the committee consults with member ministries to ensure a comprehensive and consensus-based approach.  End

 

Reported by Priyasmita Dutta

Edited by Avishek Dutta

 

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