First G20 meeting of finance & central bank deputies on Dec 13 in Bengaluru

The first meeting of the Finance and Central Bank Deputies under the G20 presidency of India will be held between December 13 and 15 in Bengaluru.

This meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 presidency, will be hosted jointly by the finance ministry and the RBI.

The meeting will be co-chaired by economic affairs secretary Ajay Seth and RBI deputy governor Michael Patra.

Their counterparts from G20 member countries and from several other countries and international organisations invited by India, will participate in the two-day meeting.

The G20 Finance Track discusses key issues of relevance for the global economy, encompassing the global economic outlook, the international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation and financial sector issues, including financial inclusion.

In the Bengaluru meeting, issues related to reorienting international financial institutions to meet the shared global challenges of the 21st century.

It will also discuss managing global debt vulnerabilities, advancing financial inclusion and productivity gains, financing for climate action and SDGs, a globally coordinated approach to unbacked crypto assets and advancing the international taxation agenda.

Meanwhile, sources informed that the first Finance Ministers and Central Bank Governors meeting will be held during February 23 and 25, 2023 in Bengaluru.

Through a series of nearly 40 meetings, India will champion the cause of the "Global South", promoting "oneness", and lead in pushing for a collaborative action, official sources said.