Iran bank could open branch in Mumbai
Foreign Minister Mohammad Javad Zarif said Iran and India are discussing ways to address the remaining bilateral issues ahead of Bank Pasargad’s plan for opening a branch in Mumbai, that country’s commercial capital.
"Bank Pasargad has permission to open a branch in Mumbai and we are working to address the remaining issues. Our assets in India could be used as Pasargad's capital – a subject that was discussed with the India’s foreign minister during the joint economic commission meeting in Tehran," zarif said.
Last August, Iran’s ambassador to India, Ali Chegeni, said Pasargad had received all the necessary permits, including from the Reserve Bank of India (RBI) for starting commercial banking in the populous Asian country. RBI is India’s central bank.
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