India Envoy, ICCIMA Chief Discuss Banking Issues

India’s government is holding talks with a new bank to facilitate trade with Iran and process Iran/India transactions. The new bank is set to work in tandem with UCO bank, according to Gaddam Dharmendra, India’s ambassador to Iran. 
During a meeting with Gholamhoessin Shafei, head of the Iran Chamber of Commerce, Industries, Mines, and Agriculture on Sunday, the senior diplomat proposed setting up a barter system between the two sides as a measure to overcome banking problems.  
“Given the existing banking issues, barter can be considered a solution,” ICCIMA quoted him as saying.