The Indian government is actively conducting inter-ministerial discussions to increase the foreign direct investment (FDI) ceiling in state-owned banks from the current 20% to 49%, financial services secretary M. Nagaraju said on Monday, reported Reuters. “The government is holding inter-ministerial consultations to raise the FDI limit in state-run banks to 49% from 20%,” he said. Budget 2026 Highlights: Here's the fine print ET had earlier reported that the finance ministry has been consulting the Reserve Bank of India (RBI), the country’s banking regulator, over the past few months, and that the proposal has not yet been finalised, sources said.