diff --git a/mercurial/remotenames.py b/mercurial/remotenames.py
--- a/mercurial/remotenames.py
+++ b/mercurial/remotenames.py
@@ -7,6 +7,16 @@
 
 from __future__ import absolute_import
 
+from .node import (
+    hex,
+)
+
+from . import (
+    vfs as vfsmod,
+)
+
+remotenamedir = 'remotenames'
+
 def splitremotename(remote):
     name = ''
     if '/' in remote:
@@ -18,6 +28,56 @@
         remote += '/' + ref
     return remote
 
+def saveremotebookmarks(repo, vfs, remotepath, bookmarks):
+    """ save remote bookmarks in .hg/remotenames/bookmarks.
+    The format of the data stored will be:
+
+    `node remotepath/bookmarkname`
+
+    bookmarks is a dictionary of remote bookmarks.
+    """
+
+    f = vfs('bookmarks', 'w', atomictemp=True)
+
+    for bookmark, node in bookmarks.iteritems():
+        if node:
+            f.write('%s %s\n' %
+                (node, joinremotename(remotepath, bookmark)))
+    f.close()
+
+def saveremotebranches(repo, vfs, remotepath, branches):
+    """ save remote branches is .hg/remotenames/branches.
+    The format of the data stored will be:
+
+    `node remotepath/branchname`
+
+    branches is a dictionary of remote branches.
+    """
+
+    f = vfs('branches', 'w', atomictemp=True)
+
+    for branch, nodes in branches.iteritems():
+        for n in nodes:
+            rname = joinremotename(remotepath, branch)
+            f.write('%s %s\n' % (hex(n), rname))
+
+    f.close()
+
+def saveremotenames(repo, remotepath, branches=None, bookmarks=None):
+    """ save remotenames i.e. remotebookmarks and remotebranches in their
+    respective files under ".hg/remotenames/" directory.
+    """
+
+    vfs = vfsmod.vfs(repo.vfs.join(remotenamedir))
+    wlock = repo.wlock()
+    try:
+        if bookmarks:
+            saveremotebookmarks(repo, vfs, remotepath, bookmarks)
+        if branches:
+            saveremotebranches(repo, vfs, remotepath, branches)
+    finally:
+        wlock.release()
+
 def pullremotenames(localrepo, remoterepo, remotepath):
     """ pulls bookmarks and branches information of the remote repo during a
     pull or clone operation.
@@ -37,3 +97,5 @@
         for node in nodes:
             if node in repo and not repo[node].obsolete():
                 bmap[branch].append(node)
+
+    saveremotenames(localrepo, remotepath, bmap, bookmarks)