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India urges Kazakhstan to ease visa rules in the banking sector

April 2014, 22
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India urges Kazakhstan to ease visa rules
India is expected to urge Kazakhstan to ease its requirements and visa regulations for the banking sector, keeping in view the Punjab National bank’s entry and functioning in that country since 2011.

P Chidambaram, Finance Minister, has plans of visiting Kazakhstan later this month, when he would discuss different issues including those concerning Punjab National bank.

According to a Government official, Punjab National bank has been facing certain difficulties due to the problems related to business visas and work permits intended for Indian officials.

India and Kazakhstan are building up economic ties particularly in the energy sector. Because of this reason, PNB has chosen Kazakhstan for establishing its presence.

According to an official, processing of the visas for the bank officials has been very slow. As per the current visa rule, the senior most bank officials are required to go through a written test organized by the local authorities prior to their placement in the branches of Kazakhstan.
The official has also told that the chosen directors of the Punjab National Bank and the executives in the top position are highly experienced. So, they would demand that these officials have to be exempted from going through the test, before they are positioned at Kazakh branches.
India wants work permits and the long-term visas to be given to the banking sector similar to visas issued in the petroleum sector.

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