Jan 8, 2019, 11:59 AM
News Code: 83163077
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Iran to open a bank branch in Mumbai: Indian media

New Delhi, Jan 8, IRNA – Indian Government has agreed with Iran's request to open a branch of Pasargad Bank in Mumbai, said Iran's Minister of Road Transport, Highways and Shipping Nitin Gadkari on Tuesday after a meeting with Iran's Foreign Minister Mohammad-Javad Zarif.

According to the leading newspaper 'Times of India' here on Tuesday, 'Iran's Bank Pasargad will open its branch within the next three months'.

Gadkari said, 'The Government of India has already given permission to Iran to open a bank branch in Mumbai. They are going to open a branch in Mumbai in three months. That will be used for transactions'.

Minister Gadkari termed his meeting with Iran's Zarif on Chabahar Port 'fruitful', the newspaper wrote.

He added, 'We had detailed discussions... Our meeting was very fruitful and we have resolved a lot of issues.'

India has placed USD 85 million machinery order for Chabahar, on the coast of the Gulf of Oman, and Iran's southernmost city.

'We have had a good discussion with the minister (Zarif). The first ship from Brazil has already been received at Chabahar... The financial arrangement is ready. There were some problems, but we have resolved the issues.'

'Proposals on barter system between the two nations can also be considered', Gadkari said.

He said the Zarif had given many proposals.

Iranian Foreign Minister on Monday arrived in the Indian capital, New Delhi, for an official three days visit.

Heading a high-ranking delegation, Zarif arrived in the country to attend Iran-India trade forum.

He is scheduled to participate at the Raisina Dialogue, taking place in New Delhi.

The Dialogue is India’s flagship conference on geopolitics and geo-economics and annually attracts high-level participants from all over the world.

The theme for the 2019 edition will be “A World Reorder: New Geometries, Fluid Partnerships, Uncertain Outcomes.'

A number of top managers from Iran's public and private sectors also accompany the Iranian foreign minister.
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