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E-mail ID will not be published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.

EDITORIAL OF THE DAY

  • 49 per cent FDI in defence should pave the way for modernisation

    There is one industrial sector in India that has been kept out of the purview of the normal cycle of investment and production — defence.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture