India and Pakistan have agreed to allow two
banks each from both the countries to set up branches across the
border.
The two Indian banks that will be allowed to
operate in Pakistan are State Bank of India (SBI) and Bank of India
(BoI).
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Quasi-state owned National Bank of Pakistan
and privately-owned United Bank will be running full-banking
operations across the border, once licensed by India.
Governor of the State Bank of Pakistan, Yaseen
Anwar said: “We are ready to go tomorrow to India to set up banking
operations.”
Discussions have, reportedly, been held with
RBI Governor D Subbarao to issue banking licences, aiming to
use the process to normalise trade relations between
India and Pakistan.
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