Pak, India banks to open cross border branches

NEW DELHI: In order to strengthen their bilateral trade India and Pakistan are set to establish banks across the borders.

According to Kashmir Media Service, a common view was expressed by Commerce Ministers of the two countries at a meeting in New Delhi. "The Reserve Bank of India and State Bank of Pakistan have already discussed this matter and will take the next step," Indian Commerce and Industry Minister, Anand Sharma told media men.

Sharma who held official level talks with Pakistan Commerce Minister, Makhdoom Amin Fahim, said, "When we are going to encourage trade and investment, not only customs check posts but banks are also essential."

Making a similar comment, Makhdoom Amin Fahim said, "Both countries are now poised to open bank branches and land routes." He said, the atmosphere of fear and apprehension has reduced considerably and the businessmen in both the countries have started to believe their governments.