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India consents to Iran bank establishment in Mumbai before US sanctions 15 Jul 2018

India consents to Iran bank establishment in Mumbai before US sanctions

India’s Finance Ministry has announced that there is no objection to allowing the Iranian private lender Bank Pasargad to open its branch in Mumbai and the Iranian bank’s proposal has been approved. According to Indian Express, in the wake of US sanctions, India may explore the possibility of reviving the rupee-rial arrangement to oil-related transactions […]