India's PNB files application to operate in Pakistan

Punjab National Bank has filed an application to open branches in Lahore and Karachi.

The branches of Indian banks in Pakistan will help in facilitating trade and commerce between the neighbours.

The move also assumes significance in the backdrop of steps taken by India and Pakistan to normalise the bilateral trade.

"Bank regulators from both the sides have met on the issue. I think, PNB has filed an application to open branches in Karachi and Lahore. State Bank of India and Bank of India have also evinced interest to start operations in Pakistan," an official said.

PNB had started its operations from Lahore in 1895. It, however, moved its headquarters to Delhi in 1947.

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