HomeWhat's HappeningIndiaFirst representatives from finance and central banks meeting under India's G20 chairmanship.

First representatives from finance and central banks meeting under India’s G20 chairmanship.

The first meeting of the G20 Finance and Central Bank Deputies (FCBD) is scheduled to take place from 13-15 December 2022 in Bengaluru. The meeting, which will mark the start of discussions on the Finance Track agenda under the Indian G20 Presidency, will be hosted jointly by the Ministry of Finance and the Reserve Bank of India.

Finance Ministers and Central Bank Governors of G20 countries lead the G20 Finance Track which focuses on economic and financial issues. It is an effective forum for global economic discourse and policy coordination.

The meeting of First Finance Ministers and Central Bank Governors will take place in Bengaluru from 23 to 25 February 2023.

The Prime Minister said in his address at the Bali G20 Summit that the need today is that the benefits of development are universal and all-inclusive. The G20 Finance Track agenda has adopted the idea from the Ministry of Finance.

He has given us a vision that India will strive to ensure that the G20 acts as a global “prime mover” to envision new ideas and accelerate collective action over the next year.

Mr. Ajay Seth, Secretary, of the Department of Economic Affairs, and Dr. Michael D. Patra, Deputy Governor of RBI will co-chair the upcoming meeting of G20 Finance and Central Bank Deputies. The counterparts from G20 member countries, and from several other countries and international organizations invited by India, will participate in the two-day meeting.

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The G20 Finance Track covers a broad range of topics that are relevant to the global economy, including the global economic outlook, international financial architecture, infrastructure development and financing, sustainable finance, global health, international taxation, and financial sector issues such as financial inclusion.

The G0 Finance Track discussions will be guided by the Indian G20 Presidency’s theme of ‘One Earth One Family, One Future. Approximately 40 meetings of the Finance Track will be held in several locations in India, which will include meetings of G20 Finance Ministers and Central Bank Governors.

The G20 Leaders’ Declaration will ultimately be based on the discussions that take place in the G20 Finance Track.

The G20’s efforts during India’s Presidency will be focused on supporting countries most in need and representing the concerns and aspirations of developing countries.

The G20 Finance Track agenda will be steered by the Ministry of Finance and the Reserve Bank of India in an inclusive manner, aimed at addressing the global economy needs of today as well as preparing for a better tomorrow.

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