First Finance, Central Bank Deputies Meeting under India’s G20 Presidency

First Finance, Central Bank Deputies Meeting under India’s G20 Presidency

One of the topics discussed at the First Finance and Central Bank Deputies Meeting under India's G 20 Presidency was the concept of a globally-coordinated approach to unbacked assets.

The Finance Track agenda was discussed with discussions on India's G 20 Presidency, as co-hosting the three-day meeting was hosted by the Reserve Bank of India.

Day 1 saw different sessions on the global economy, international financial architecture, infrastructure and sustainable finance.

The G 20 Finance Track, led by the central bank governors and finance ministers of G 20 nations, focuses on economic and financial issues. It is a good forum for the discussion of international economic issues and the coordination of policy.

Some of the other agendas included reorienting international financial institutions to meet the common challenges of the twenty-first century, funding cities of tomorrow managing the risks associated with the world's debt, funding for climate action and the United Nations Sustainable Development Goals, and moving the international taxation agenda forward, among others.

The G 20 Finance Track covers the global outlook, international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation and issues relating to the financial sector, including financial inclusion, according to an official press release.

In conjunction with the meeting was a panel discussion on Strengthening Multilateral Development Banks to Address Shared Global Challenges of the 21st Century. There was also a seminar on the Role of Central Banks in Green Financing. From February 23 to 25, 2023, Bengaluru will host the inaugural meeting of central bank governors and finance ministers. Ajay Seth, Secretary of Economic Affairs, and Michael D Patra, Deputy Governor of the RBI, will co-chair the G 20 FCBD meeting. They will be joined by their counterparts from the G 20 member nations as well as from a number of other nations and international organisations that India has invited to join the meeting.