Addressing a gathering of businessmen and mediapersons at an interactive session organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPon Thursday, Ansari said that UCO Bank was the only bank in India authorised to facilitate transactions in oil trade between the two countries. "There is a monopoly of the UCO Bank which we want to do away with. They handle a lot of our money. We have submitted proposals to RBI and the ministry of finance to diversify our options. If this happens, it will benefit both India and Iran," Ansari said.  Read more