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Indian banks make inroads into Myanmar

July 01, 2014

Mint/by Anup Roy and Remya Nair

​Several Indian banks are establishing a presence in Myanmar, a country that is both the key to the success of India’s much-touted "look East” policy, and the latest late-blooming-boomtown in this part of the world.

United Bank of India, Bank of India and State Bank of India (SBI) have already established or are venturing into the country.

The so-called "look East” policy refers to India’s attempts to build economic relationships with South-East Asian nations.

According to bankers, bilateral trade between the countries will rise exponentially once the road project to connect India’s Mizoram with Myanmar and Bangladesh gets operational. Incidentally, the World Bank in June granted a soft loan of $107 million to develop the road project.......[Read More]

(The views expressed above are the personal views of writer)

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