Foreign News: Pakistan and India to open banks across border 07 July 2015 3:50PM Banking Day staff India and Pakistan are working on an agreement that could see three banks from each country set up branches across the border, the Economic Times of India reports. The two sides agreed in 2012 to issue full banking licences to two banks from each country, but the moves towards normalisation of trade stalled after Pakistan did not grant Most Favoured Nation-status to India, the newspaper reports. Indian Commerce Minister Khurram Dastagir Khan said the Reserve Bank of India had since 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," he told the newspaper.