The Punjab National Bank (PNB)’s long cherished dream of opening a branch in the Pakistan city from where it started its journey some 117 years ago is not likely to materialise soon.
For, the PNB top officials have hinted that there is no headway in the proposal submitted to open a branch in Pakistan’s Lahore city from where the bank started its operation 1895. The bank later shifted its headquarters to Delhi in 1947.
PNB has sought permission from the Reserve Bank of India to open two branches in Pakistan. The bank proposes to start one branch in Lahore and another in Karachi. The proposal has been a part of consent built between India and Pakistan to allow two banks each from both countries to set up branches across the border.
The branches of Indian banks in Pakistan will help in facilitating trade and commerce between the neighbours.