Secretary, DFS chairs Inter-Departmental Committee Meeting

• The Inter-Departmental Committee (IDC) is a multi-ministry body chaired by the Secretary, Department of Financial Services (DFS) that vets proposals from foreign banks seeking entry into India through branches, representative offices, or subsidiaries.
• DFS acts as the nodal department; the RBI forwards proposals, and member ministries provide clearances from security, diplomatic, and trade angles.
• Topic blends Indian Economy (banking sector reforms, FDI in banking) with Governance (inter-ministerial coordination) — relevant for GS-II and GS-III.