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2 banks to open Indian branches

Pakistan's central bank has allowed two banks - National Bank of Pakistan and United Bank Ltd - to open branches in India to normalise economic and trade relations between the two countries.

world Updated: Aug 04, 2012 01:50 IST

Pakistan's central bank has allowed two banks - National Bank of Pakistan and United Bank Ltd - to open branches in India to normalise economic and trade relations between the two countries.

SBP governor Yasin Anwar said the Reserve Bank of India was informed of the decision of allowing the banks to explore opportunities in India.

The move came in the wake of India's decision to allow investments by Pakistanis in all sectors except defence, space and atomic energy. Trade between India and Pakistan is worth a little more than.