G20 Summit 2023: Under G20, the meeting of the Finance Minister and Governors started in Bengaluru. Many important issues will be discussed in the meeting. One of the main issues in this is to strengthen multi-lateral banks. Which can be discussed. In the ongoing first day meeting in Bengaluru, PM Modi said that "we hope that you will be able to broadcast the same positive spirit to the global economy".
The first meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) under the Indian presidency of the G20 is to be held in Bengaluru on 24 and 25 February. Union Finance Minister Smt Nirmala Sitharaman and RBI Governor Shaktikanta Das will jointly chair the meeting. Finance ministers and governors of central banks, invitees and heads of international organizations are taking part in this meeting. A total of 72 delegations participated in this meeting.
Created a new fintech platform – PM Modi
During the meeting, PM Modi said through video conferencing that “We hope that you will be able to spread the same positive spirit to the global economy. Our digital payments ecosystem has fundamentally changed governance, financial inclusion and ease of living. Indian consumers and manufacturers are optimistic or confident about the future.
He further added that “during our G20 presidency, we have created a new fintech platform, which allows our global G20 guests to access India's path-breaking digital payments platform, UPI”.
The meeting is to be held for 2 days
The agenda of the meeting under the Indian chairmanship has been designed in a manner that can foster a meaningful exchange of views among ministers and governors on practical and meaningful approaches to solving some of the major global economic issues. This meeting will be held in three sessions. These sessions will discuss strengthening multilateral development banks to address the common global challenges of the 21st century. as well as financing for strong, inclusive and sustainable 'cities of the future'; Member country representatives will also speak on issues such as using Digital Public Infrastructure (DPI) to enhance financial inclusion and productivity. During this, issues related to the global economy, global health and international taxation will be discussed. The discussion at the G20 FMCBG meeting is aimed at creating a clear mandate for the different workstreams of the G20 finance track in 2023.
