New Delhi, Nov. 20 -- Department of Financial Services (DFS) Secretary M. Nagaraju chaired a meeting of the Inter-Departmental Committee (IDC) to review proposals related to the operations of foreign banks in India and the overseas expansion plans of Indian banks.

Representatives from the Ministry of Home Affairs, Ministry of External Affairs, Department of Commerce and the Reserve Bank of India (RBI) attended the meeting.

The IDC, functioning under the DFS, acts as the nodal body for evaluating such proposals.

Its recommendations are based on consultations with member ministries and departments to ensure a coordinated and consensus-driven approach to decisions involving domestic and international banking operations.

The Committee del...