OBC goes slow on Pak plan

Written by fe Bureau | New Delhi | Updated: Mar 31 2009, 05:51am hrs
Oriental Bank of Commerce has pulled the breaks on its plan to open a branch in Pakistan, saying there are concerns whether India should have a banking relationship with it.

We are on the look out to open a branch in Pakistan. But the scenario is not conducive for such a move due to the ongoing tension between the two countries. Also, questions are being raised on the banking relationship between the two countries. We have put a hold on our plan for the moment, the banks executive director S C Sinha said here. Last year, P Chidambaram had asked OBC to approach Reserve Bank for opening a branch in Lahore.