Central banks of Poland, India discuss monetary issues

Tags: News
The central banks of India and Poland discussed the current macroeconomic situation and monetary policy challenges, President of the National Bank of Poland Marek Belka said today.

"We discussed the macroeconomic situation and challenges to monetary policy both for India and for Poland. Even if we are so different, some challenges for emerging economic like ours are quite similar," said Belka, who is visiting India on the invitation of RBI Governor D Subbarao.

He was talking to reporters on the sidelines of a seminar on 'Emerging Business and Investment Opportunities in Poland' organised by industry chamber Ficci.

When asked about banking opportunities for Polish banks in other countries, Belka said banks in his country are mostly subsidiaries of foreign banks so there was little scope for them to go abroad.

"Most polish banks are subsidiaries of foreign banks. So, this is not so much a decision of Polish banks to go overseas. ...And I wouldn't see Polish players/Polish financial companies to be interested going dynamically abroad," he added.

However if the banking opportunities develop, he said, Poland would be interested in 'correspondent banking'.

"We need correspondent banks.... Of course (we need) certain Indian banks in Poland and polish banks in India to facilitate business," he added.

A correspondent bank is a financial institution that provides services on behalf of another financial institution and is used to conduct business in foreign countries.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • State-owned banks can ride technology surge to penetrate retail segment

    For the first time in recent history, two large private sectors banks, ICICI and Axis have reduced their headcounts.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

The rabbit hole of outcome budgets

Would you tell me, please, which way I ought to ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture