Iranian bank to open branch in Mumbai in 3 months: Nitin Gadkari

Iran will be opening a branch of its private bank named Pasargad in Mumbai in three months, Union Minister of Road, Transport and Highways Nitin Gadkari said on Tuesday.

"The Government of India has already given permission to Iran to open a bank branch in Mumbai. They are going to open a branch in Mumbai in three months," the Union Minister said.

The Union Minister met Iran Foreign Minister Mohammad Javad Zarif in Mumbai on Tuesday and engaged in detailed discussion over a range of topics, including the Chabahar Port, steel, locomotive engines and urea.

The Iran Foreign Minister also expressed satisfaction over the talks with Gadkari and praised India's efforts in setting up the bank branch in the country.

"Iran and India has complementary economies. We have a whole range of options open to us. In the banking sector, we are very happy that both United Commercial Bank (UCO) from India and Pasargad bank from Iran are getting started. We hope that irrespective the illegal US sanctions, Iran and India can cooperate further for the benefit of the two countries and the region," Zarif said.

Meanwhile, focusing on Iran-Pakistan-India gas pipeline, a top Iran government source told ANI, "It's a practical idea. It will cement peacefully relation in these three countries. We are an important neighbour. Security feasibility is much more apparent. I believe that was a brilliant idea started."

On further information, the source informed that the US is 'threatening' Iran.

"They found they are powerless in their own continent. Europe+China+India is much larger than the US. US global power is a bubble. Bubbles burst if you push in too much air. Obama tried to inject realism in the region. The photo opportunity is a liability for us," the source said adding that "engagement with US is not in the realm of possibility right now."

On Iran Taliban peace Dialogue, the source said, "I think, Iran was last country to start a dialogue with Taliban. We did have contacts with them. We had a security dialogue with intelligence. We had short dialogue in Moscow, and first round in Tehran last week."

The source also noted that Iran has not discussed Chabahar with Taliban, however, China, Japan or anyone can join Chabahar.

"We need a channel of communication. We need an Afghanistan government where Taliban is participant but not dominating. If Taliban dominate Afghanistan is a security threat to Iran, India but an existential threat to Pakistan. We discussed this with late PM Bhutto. We told them that you are creating Taliban and this will be your menace. We told this to Pakistan, and they don't disagree. Taliban is a reality in Afghanistan. 11 of our diplomats were killed by Taliban," the source said regarding Taliban.

"We have our channels with Taliban. If (India) wishes to use those channels, they are welcomed," the source added.