Pakistan, India to operate banks across border soon: Mansha!

[Viny]

so for first time after independence Gandhiji will have a home in pakisthan and will go there officially.

 

[Echo_419]

Pakistan, India to operate banks across border soon: Mansha
By Web Desk
Published: July 5, 2015

PHOTO: ARCHIVE.FORTUNE.COM

In a historic move, Pakistan and India’s banks are set to open their branches in each other’s countries soon, according to business giant Mian Mansha.

“Central banks of both the countries have completed the necessary work and are waiting for a green signal from New Delhi,” Mansha told Khaleej Times on the sidelines of an event in Dubai.

“Reserve Bank of India (RBI) has more or less processed our ap-plication, I have also met Indian Finance Minister Arun Jaitley and he is very positive on it,” Mansha added.

To normalise trade relations, Pakistan and India will allow three banks to set up branches in the other country.

In 2012, two Indian banks namely the State Bank of India and Bank of India were allowed to operate in Pakistan. While, state-owned National Bank of Pakistan and privately-owned United Bank Ltd were selected for running full banking operations in India once they obtained licences.

“When our government gave two names, NBP and UBL, to the Indian government, the business community in India asked for MCB Bank instead,” Mansha claimed.

MCB Bank was incorporated in Calcutta in 1947 but the bank’s headquarters is now located in Lahore. “We had more than 65 per cent of our trade flows with India before 1965.”

“We will have three branches in Mumbai, New Delhi and it will be the first foreign bank if it gets permission in Amritsar,” Mansha added.

However, he explained, “I think now it’s a little bit stuck on the political side. Hopefully, we get on track and it will be done soon. Sometimes politics take over economic things. We should have trade relationship that can take the shocks.”

Recently Pakistan and India have been involved in a verbal tirade souring relations between the two countries.

This article originally appeared on Khaleej Times
Pakistan, India to operate banks across border soon: Mansha - The Express Tribune

I hope these banks are not used for terror financing across the border. Anyways, good luck with your new-found love of the money! At least there is "something" that unites ours two countries for a common cause!

@13 komaun @[Bregs] @agamdilawari @airuah @Ajit Kumar @Ammyy @anant_s @Arav_Rana @ASB @Avik274 @Bagha @bhangi bava @bloo @blood @Blue_Eyes @Bombaywalla @Brahmos_2 @cerberus @Chanakya's_Chant @chhota bheem @danish_vij @desert warrior @DRAY @Echo_419 @eowyn @Etilla @farhan_9909 @Force-India @gau8av @genmirajborgza786 @Georgeclark @gslv mk3 @halupridol @haviZsultan @he-man @illusion8 @Ind4Ever @indiatester @IndoUS @Indrani @itachiii @ito @jaiind @JanjaWeed @kadamba-warrior @karan.1970 @khujliwal @Krate M @kurup @levina @lightoftruth @magudi @Major Shaitan Singh @Manindra @Marxist @me_itsme @Mike_Brando @MilSpec @Mukunda Murthi Rao @Nair saab @naveen mishra @noksss @Not Sure @Omega007 @OrionHunter @PARIKRAMA @pumkinduke @pursuit of happiness @r1_vns @rahi2357 @Rain Man @ranjeet @ravi Nair @RayOfLight @Razia Sultana @ROCKING @Rohit Patel @rubyjackass @Ryuzaki @sajan @SamantK @SAMEET @Samudra Manthan @SarthakGanguly @Sidak @Skull and Bones @Sneaker @SpArK @Spectre @sreekumar @Srinivas @SrNair @Star Wars @surya kiran @SwAggeR @Syama Ayas @Tea addict @thesolar65 @utraash @VeeraBahadur @vostok @WAR-rior @Water Car Engineer @wolfpack @wolfschanzze @Yogijaat

Great news

 

[dray]

Will these banks be in retail banking.....I doubt! There is serious trust deficit in both countries about each other........!

 

[OrionHunter]

I hope these banks are not used for terror financing across the border. Anyways, good luck with your new-found love of the money! At least there is "something" that unites ours two countries for a common cause!

It's the money that makes the mare go, baby!

 

[xyxmt]

This is a good initiative. when people from both sides invest in each other, there will be vested interest in keeping peace.
Trade should have been the first priority for both the countries, instead of kashmir, sir kreek and all..

stop day dreaming, these all are bullshit moves like samjhota express and bus service. Nothing will happen nothing will come out of it

 

[Mukunda Murthi Rao]

stop day dreaming, these all are bullshit moves like samjhota express and bus service. Nothing will happen nothing will come out of it

Dood mangoge to kheer denge. Kashmir mangoge to cheer denge

 

[naveen mishra]

Pakistan, India to operate banks across border soon: Mansha
By Web Desk
Published: July 5, 2015

PHOTO: ARCHIVE.FORTUNE.COM

In a historic move, Pakistan and India’s banks are set to open their branches in each other’s countries soon, according to business giant Mian Mansha.

“Central banks of both the countries have completed the necessary work and are waiting for a green signal from New Delhi,” Mansha told Khaleej Times on the sidelines of an event in Dubai.

“Reserve Bank of India (RBI) has more or less processed our ap-plication, I have also met Indian Finance Minister Arun Jaitley and he is very positive on it,” Mansha added.

To normalise trade relations, Pakistan and India will allow three banks to set up branches in the other country.

In 2012, two Indian banks namely the State Bank of India and Bank of India were allowed to operate in Pakistan. While, state-owned National Bank of Pakistan and privately-owned United Bank Ltd were selected for running full banking operations in India once they obtained licences.

“When our government gave two names, NBP and UBL, to the Indian government, the business community in India asked for MCB Bank instead,” Mansha claimed.

MCB Bank was incorporated in Calcutta in 1947 but the bank’s headquarters is now located in Lahore. “We had more than 65 per cent of our trade flows with India before 1965.”

“We will have three branches in Mumbai, New Delhi and it will be the first foreign bank if it gets permission in Amritsar,” Mansha added.

However, he explained, “I think now it’s a little bit stuck on the political side. Hopefully, we get on track and it will be done soon. Sometimes politics take over economic things. We should have trade relationship that can take the shocks.”

Recently Pakistan and India have been involved in a verbal tirade souring relations between the two countries.

This article originally appeared on Khaleej Times
Pakistan, India to operate banks across border soon: Mansha - The Express Tribune

I hope these banks are not used for terror financing across the border. Anyways, good luck with your new-found love of the money! At least there is "something" that unites ours two countries for a common cause!

@13 komaun @[Bregs] @agamdilawari @airuah @Ajit Kumar @Ammyy @anant_s @Arav_Rana @ASB @Avik274 @Bagha @bhangi bava @bloo @blood @Blue_Eyes @Bombaywalla @Brahmos_2 @cerberus @Chanakya's_Chant @chhota bheem @danish_vij @desert warrior @DRAY @Echo_419 @eowyn @Etilla @farhan_9909 @Force-India @gau8av @genmirajborgza786 @Georgeclark @gslv mk3 @halupridol @haviZsultan @he-man @illusion8 @Ind4Ever @indiatester @IndoUS @Indrani @itachiii @ito @jaiind @JanjaWeed @kadamba-warrior @karan.1970 @khujliwal @Krate M @kurup @levina @lightoftruth @magudi @Major Shaitan Singh @Manindra @Marxist @me_itsme @Mike_Brando @MilSpec @Mukunda Murthi Rao @Nair saab @naveen mishra @noksss @Not Sure @Omega007 @OrionHunter @PARIKRAMA @pumkinduke @pursuit of happiness @r1_vns @rahi2357 @Rain Man @ranjeet @ravi Nair @RayOfLight @Razia Sultana @ROCKING @Rohit Patel @rubyjackass @Ryuzaki @sajan @SamantK @SAMEET @Samudra Manthan @SarthakGanguly @Sidak @Skull and Bones @Sneaker @SpArK @Spectre @sreekumar @Srinivas @SrNair @Star Wars @surya kiran @SwAggeR @Syama Ayas @Tea addict @thesolar65 @utraash @VeeraBahadur @vostok @WAR-rior @Water Car Engineer @wolfpack @wolfschanzze @Yogijaat

i think behind curtain something else is cooking

 

[xyxmt]

Dood mangoge to kheer denge. Kashmir mangoge to cheer denge

abhi itna dum tum me nehe bacha ji.

I can make the same kind of saying...ghalat bolo gye to muka mar dain gye, Kasmir ne dogey to **** mar dain gye

 

[third eye]

These Banks on both sides will become targets for displaying protests.

Yahoo groups / individuals on both sides will find these the best locations to get publicity from.

The banks would be well advised to use either bullet proof glass of old fashioned wooded / metal doors !

 

[I FLY HIGH]

It is absolutely a wrong move as the relations are all time low . so he must wait for some good time to come .

 

[SHAMK9]

Now each country can fund each others separatists directly!!

/thread

 

[Mukunda Murthi Rao]

abhi itna dum tum me nehe bacha ji.

I can make the same kind of saying...ghalat bolo gye to muka mar dain gye, Kasmir ne dogey to **** mar dain gye

I cant even understand half the thinks you said.
I didnt think urdu ka ye hal hojaega. Shaeri to ache se karlia kro.

 

[halupridol]

Can someone explain how these banks will help improve trade betwn India Pak?

 

[rubyjackass]

What is the point if both countries don't allow each other's investments. What business will these banks do except what they are already doing? Which is to provide things like letter of credit to traders. In any case, having each other's businesses across border is too risky. You don't know when a government will shut a company down calling it enemy property.

 

[Bang Galore]

In any case, having each other's businesses across border is too risky. You don't know when a government will shut a company down calling it enemy property.

The threats by respective governments taking action would be limited, the real worry would be of the mobs. Why I proposed elsewhere that India & Pakistan have an industrial zone somewhere along the border with both having common access. Safety would become less of an issue & the two countries can charges internal duties on whatever products flow into each country from that specified zone. With both Indian & Pakistanis employable within that zone, that would probably be the best bet to see real investment come in.