Iranian banks keen to make India foray

At least four banks from Iran are interested in setting up shop in India, but they are facing difficulties due to regulations. said a top Iranian diplomat here.

Speaking at a function organised by the All  India Association of Industries (AIAI) here, Iranian Consul General Masood E Khaleghi said: "Four Iranian banks look forward to opening branches in India. However, due to the cumbersome procedures and guidelines of the RBI, they are unable to start operations."

An All  India Association of Industries release quoting Masood E Khaleghi as saying that a delegation of Irani officials recently met officials from the Union Ministry of Finance and the Reserve Bank of India in this regard. 

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