India-Pakistan: Banking regulators to meet in March

Excerpts from India Business Hour on CNBC-TV18 Watch the full show »

A day after the Pakistan government deferred a proposal to trade with India on a negative list basis, the Pakistan commerce minister Makhdoom Amin Fahim today said that the proposal will be taken up by the cabinet soon..

Anand Sharma, Commerce Minister told CNBC-TV18's Rituparna Bhuyan that the road is set for the banking regulators of the two countries to meet and pave the way for cooperation in the financial sector.

Sharma says, "Pakistan is categorical in reaffirming that they will adhere to shifting to a negative list protocol very soon, by February."

He further says, the RBI and the State Bank of Pakistan are in dialogue. "A delegation from Pakistan will be received by the RBI in the first half of March to pave the way for an understanding, for the opening of bank branches in each others countries. India is committed to take this forward."