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Foreign banks gain approval to expand in India; ₹200 crore loan approved for Uttarakhand's mining reforms.
An inter-departmental committee chaired by DFS Secretary M Nagaraju approved proposals from foreign banks to expand operations in India, following security, economic, and political reviews.
The decision, made with input from multiple ministries and the Reserve Bank of India, allows foreign banks to establish branches, representative offices, or subsidiaries.
Separately, the central government approved a Rs 200 crore loan for Uttarakhand under the SASCI scheme to support mining sector reforms, aiming to boost transparency, sustainability, and job creation.
Chief Minister Pushkar Singh Dhami welcomed the funding as a boost to the state’s economy.
Los bancos extranjeros obtienen la aprobación para expandirse en la India; se aprueba un préstamo de ₹ 200 millones para las reformas mineras de Uttarakhand.