2 Indian banks ready to enter Pak market

Two Indian banks are likely to enter the financial market of Pakistan, following the country’s central bank approval to the National Bank of Pakistan (NBP) and the United Bank Limited (UBL) to open their branches in India, sources in the banking sector said on Sunday. The opening of banking channels in each other’s countries was one of the main features of the Pak-India trade agreement signed in February 2012. It was also decided that the representatives of the central banks of both countries will meet and finalise institutional frame work for the opening of banking branches in Indian and Pakistan with a view to enhance economic and trade ties between the two countries. From gulftoday