Indian Banks see opportunity in trade of non-Basmati rice

Banks in India are knocking at the doors of the regulators, trying to get approval to open branches in Dhaka, the capital of Bangladesh. Earlier this month, the government had lifted a four-year ban on the shipment of wheat and non-Basmati rice to provide a way out of the space crunch in warehouses. "We see the lifting of the ban of non-Basmati rice as an opportunity for us to be involved in funding for trade. We have approached the regulator for opening a branch in Dhaka," said a senior Allahabad Bank official. Read more ...