http://www.thehindubusinessline.com/industry-and-economy/banking/article3738846.ece
A clutch of top public sector banks are looking to open branches in Pakistan. These include Punjab National Bank (PNB), Bank of India (BoI) and State Bank of India.
For banks such as PNB and BoI, it would be a sort of homecoming as their roots were in Pakistan, prior to partition.
Leading in the race to once again establish presence in Pakistan is PNB, which started its journey in Lahore in 1894.
PNB has volunteered to open a branch in Pakistan and submitted its application to the Indian banking regulator Reserve Bank of India. Authorities in Pakistan have in-principle agreed to such a move.
Talks are on between the Indian and Pakistani banking regulators to permit more banks from either side to open branches in each other’s territory, they said.
BoI has already applied to the Ministry of External Affairs here. The bank is looking to get back some of its earlier assets now held in Pakistan. These assets were frozen at the time of partition.
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