India, Pak mull banking facility for cross border trade
Wednesday, 11 May 2011, 05:12 IST
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Srinagar: Governments of India and Pakistan are considering a scheme formulated by the Reserve Bank of India for providing banking facility to cross Line of Control (LoC) trade in Jammu and Kashmir, a senior state minister said. Minister for Finance Abdul Rahim Rather told a delegation of Cross LoC traders that the State Government is very keen to give a big boost to the trade between the divided parts of the state, for which all the required measures are being taken. Rather referred to Government initiatives taken for establishing of Bank transaction facilities for the conduct of cross LOC trade through banking transactions. "RBI has already framed a comprehensive scheme which is under consideration of the Governments of India and Pakistan. Once the scheme gets the nod, the Banking facilities would be put in place as per the urges and aspirations of the traders," he said.
Source: PTI
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