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Iran requests India to allow open multiple Bank Accounts

Iran has requested the ministry of finance and the Reserve Bank of India to allow it open accounts in multiple banks to facilitate better non-oil trade between the two nations.At present, only UCO Bank facilitates transactions with Iran and those are oil related.

According to Iranian Ambassador to India Gholam Reza Ansari, as the UCO Bank account deals with only oil transactions, the Persian Gulf nation needs to open accounts in different banks for better non-oil trade between the two countries.

Source-On Request