Inter-Departmental Committee Meeting on Foreign Banks in India
The Secretary of the Department of Financial Services, Shri M. Nagaraju, chaired an Inter-Departmental Committee meeting involving the Ministry of Home Affairs, Ministry of External Affairs, Department of Commerce, and the Reserve Bank of India. The meeting focused on proposals for establishing branches, representative offices, and subsidiaries of foreign banks in India, as well as reviewing Indian banks' proposals for international expansion and requests for relocation of existing foreign bank branches within India. The Committee aims for a consensus-based approach in evaluating these proposals.
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