United Bank of India has commenced operations at its representative office at Yangon in Myanmar.
United Bank is the first bank from India to open an
office in Myanmar. The setting up of a representative office is likely
to give a boost to the Indo-Myanmar trade, said a press statement issued
by the bank.
No financial transactions
Though the representative office will not handle any
financial transaction, officials will maintain liaison with the
Government, banks and traders and will extend help and cooperation
toward resolving all issues relating to settlement of trade-related
transaction between both the countries, the release said.
source: The Hindu Business Line
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