India and Pakistan have agreed to allow two banks each from both the countries to set up branches across the border.Governor of the State Bank of Pakistan, Yaseen Anwar told PTI in Singapore that discussions were held with the Reserve Bank of India and both sides have agreed to issue a full banking licence to two banks of each country.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.
News On AIR | August 22, 2012 9:26 PM
India, Pak agree to allow two banks each to operate across border