Thursday, January 30, 2014

Pakistani Banks May Now Open Their Branches In India

Our Government could not stop cross border terrorism. India could not stop infiltration from our borders attached with Bangladesh, Pakistan and others. India could not stop introduction of fake notes in India from Pakistan and through neighboring countries. 

Indian government started Bus service from Indian cities to cities in Pakistan but could not safeguard Indian interest and could not stop entry of terrorists from Pakistan to India in disguise. Indian government started train service from India to city in Pakistan but could not develop love and affection between citizens of two countries. 

Indian government allowed several cultural programme between artists of India and that of Pakistan but could not dilute intensity of animosity in the hearts of Pakistani people against Indian people.

There are custom offices around border with Pakistan but Indian officials could not stop supply of arms and ammunition s from neighboring countries to Indian territory. It is open secret that India based naxal groups or anti national terror groups have huge stock of arms and ammunition which they use from time to time to kill innocent rural folks, to disturb Indian cities and to attack Indian armed forces.

Training camps are reportedly functioning all over the country to promote anti national activities and to promote naxalism and terrorism in India to destabilize India. People of India are being trained by Pakistan based terrorist organizations to create communal disharmony, to provoke riots and to weaken the country by hook or by crook.

Indian rulers are in dialogue with rulers of Pakistan for decades together but could not stop terror attack on Indian territory by Pakistan based terrorist and could not stop growth of Indian brand of terrorism called as Indian Mujahidin or SIMI or similarly other Indian brand terrorist organizations under the patron and guardianship of Pakistan based terror camps. 

India has hundreds of bitter experiences with Pakistan rulers when Pakistan has cheated India in the name of friendship. India gave status of 'Most Favoured State' to Pakistan but failed to change the heart of Pakistani rulers , Pakistani armed forces and ISI who are bent upon disturbing India. 

Indian government imposed faith in Nawaz Shariff, but Kargil War happened, head of Indian army Jawan cut off and taken away and there are frequent violation of line of control by Pakistan based armed forces. Rather cross border firing from the side of Pakistan has been found to be in increasing trend in recent past.

All above bitter truth is not my saying but the facts which appear in newspapers of India, which our leaders use to say in their speeches, which TV media use to say in their programmes and news broadcasts..

In spite of all these threats India has been facing from neighboring country like Pakistan, Our government is in process of starting three Indian banks to work in Pakistan and allowing in lieu of that three Pakistan based banks to start functioning in India. 

Is this not a direct threat to Indian economics, direct invitation to terrorists to disturb India economically and in brief, a direct step to add fuel to fire?
I am unable to understand how Indian regulators like RBI will be in a position to ensure hundred percent       compliance  of KYC norms prescribed by RBI (Know Your Customers) from Pakistan based banks when they failed to do so for even Indian Banks even after decade long efforts and vigorous follow up in this regard.

I am unable to understand how RBI will safeguard India from money laundering which is more likely to take place from proposed Pakistan based banks working in Indian territory as RBI and Government of India completely  failed to stop the same even from some of private banks in India which were exposed by Kobra Post sting operation in recent past. 

I am unable to understand how RBI or for that matter Government of India will stop lending in India by Pakistan based banks for promotion of terror acts, for purchase of arms and ammunitions to disturb Indian towns and cities in the name of fake business identities formed by India based anti nationals who are said to be working in nexus with Pakistan based terror camps.

There are several cases of advances made by Indian banks based on fake deeds, or for fake business on fake identities, when India is not fit to control and properly monitor even Indian banks, how will they stop Pakistan based banks in doing and promoting  ill-motivated activities   to weaken India   .

The casual approach and corrupt minded officials sitting in custom and excise departments or at borders has failed or you can say willfully allowed Pakistan based terrorist to send drugs, arms and other dangerous weapons to Indian counterparts in disguise of potatoes and food grains to serve their self interest.

GOI should understand how majority of officials in government offices are bought by bribe and how do they indulge in activities which harm the country. 

And now allowing Pakistan based banks to function in India will do nothing but add fuel to fire. There is no doubt to me keeping in view the working style of Indian bosses and Indian politicians that India is inviting more problems from Pakistan than solving anyone by taking a decision to allow three banks from Pakistan to function in India and vice versa..

Lastly II may say an old proverb in  Hindi    “ Aa Bel Mujhe Mar”

There may be apprehension in the minds of a large section of Indian mass that Pakistani banks will collect deposits from Indian people and may use the same to kill Indian people, may use Indian base to destabilize Indian economy and may use the Indian money to propagate and promote their terrorism against India from India's land. Pakistan based banks may use banking channels to distribute fake currencies and thus strike at the root of Indian economy.they may sanction personal loans to buy arms and ammunition and to buy explosives and drugs etc.they may sanction loans to manufacture arms and illegal weapons in India and so on.

What will be the checkpoints is a million dollar question which Indian rulers are supposed to give to Indians?

India, Pakistan to allow 3 banks in each other's country: Minister--Economictimes 17.01.2014

ISLAMABAD: India and Pakistan are working to allow three banks to set up branches on each other's soil to normalise trade relations and boost commerce, Minister of State for Commerce Khurram Dastagir Khan has said.
The two sides had agreed in August 2012 to issue a full banking licence to two banks from each country. However, normalisation of trade was hit after Pakistan failed to deliver on a commitment to grant Most Favoured Nation-status to India in January last year

"We were told that the Reserve Bank of India had since, I would say, lessened its restrictions, it is no longer two banks. Any bank that fulfils the requirement can apply. For the time being, we are working on three banks each," Khan told PTI here.
The issue of setting up bank branches on each other's soil was raised with Indian Commerce Minister Anand Sharma by Pakistan's Punjab Chief Minister Shahbaz Sharif when he visited New Delhi recently.
Khan, who left for India today to participate in a SAARC business meet, said, "The State Bank of Pakistan has just written to the RBI that three banks would like to open their branches in India. I don't know when but it will happen. Some movement has taken place."
In 2012, the two Indian banks allowed to operate in Pakistan were the State Bank of India and Bank of India. On the Pakistani side, the quasi-state owned National Bank of Pakistan and privately owned United Bank Ltd were selected for running full banking operations in India once they obtained licences.
However, there has not been much forward movement on the issue.
Khan, a top leader of the ruling PML-N party, argued that the biggest hurdle to normal trade ties was the "very restrictive visa regime".
"People cannot travel to the other country. Visa is not something that appears on trading figures but is very substantial. If businessmen from one country cannot travel to another country and see firsthand and analyse the economic opportunities that are there, then trade is severely hampered," he said.
"Visa restriction is what we call a non-tariff barrier," he added.
Khan pointed out another issue not reflected by trade figures was the lack of bilateral banking relations.
"That is also not a trading issue but is a necessary facility required for trading. So banking relationship has to be there. Another issue that we will talk about, maybe not in this trip, is to allow communication network. Allow roaming," he said.
"And here I am quite definite that obtaining a SIM in Pakistan is miles easier than it is in India. So if people can't communicate and use the banking channel, and if they can't travel, it is a hurdle to trade," he said.



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