Indian banks allowed to operate in Pakistan

By
fraaz
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7
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India and Pakistan have agreed to allow two banks each from both countries to set up branches across the border.
State Bank of Pakistan Governor Yaseen Anwar said this while talking to Indian media here on Wednesday.
“We have held discussions with the Reserve Bank of India and both sides have agreed to issue a full banking licence to two banks of each country,” Anwar told Indian media on the sidelines of a conference organised by Institute of South Asian Studies.
The two Indian banks that will be allowed to operate in Pakistan are State Bank of India (SBI) and Bank of India (BoI). On the other hand, quasi-state owned National Bank of Pakistan and privately-owned United Bank Ltd. will be running full-banking operations across the border, once licensed by India. “It will take few months to approve Indian banks’ licences on receiving them,” he said. “We are ready to go tomorrow to India” to set up banking operations, Anwar said. Discussions have been held with RBI Governor D Subbarao to issue banking licences, he said, adding that the process will help normalise trade relations between India and Pakistan.
Meanwhile, officials from the Bank of India in Singapore have recently visited Karachi for setting up an office in Pakistan, said Syed Hasan Javed, Pakistan High Commissioner to Singapore.

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7 COMMENTS

  1. Lets hope people do not start torching them to protest on issues that should NOT be used as excuses to burn property.

  2. Most welcome for the opening of Indian Bank in Pakistan,It is my humble and keen desire and wish that I should be the first Account Holder of Indian Bank in Pakistan and particularly in Lahore Branch.If Indian Government thinks it fit and desreable request to honour me,I must be called on my cell no.03004021667 without any hesitation.It will be a great honour for me.with best prays for the completion of my long outstanding desire.

      • D~nt be jealous.Quality does not require any religion.but religion makes good qualities in the society.Islam is the best religion in the world,but allas we have forgotten the teachings of it and othercommunity adopts and are living happy life hindus are very honest in business as campare to muslms.But our leaders have created hatred among themselves.If i may be given a chance yo live there .I will prefer.be open mind.

  3. Pakistani banks will last couple of hours after their opening before they are torched by hindu extremists

  4. Great to see this development. The future lies in friendly and brotherly relations with our big. Eighbour. Have solid solid trade, cultural and people links will enable the region to benefit and compete globally.

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