India’s G-20 Presidency: Bengaluru to host Finance Ministers and Central Bank Governors’ meeting next week

Union Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Dr Shaktikanta Das will jointly chair the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting scheduled to be held next week. This will be the first G20 FMCBG meeting under India’s G20 Presidency, the Ministry of Finance said in a statement on Sunday.

To be held on February 24-25, the FMCBG meet will see the participation of Finance Ministers and Central Bank Governors of the G20 members, invitee members and heads of International Organisations.

Union Minister for Information & Broadcasting and Youth Affairs & Sports Anurag Thakur will inaugurate the G20 Finance and Central Bank Deputies (FCBD) meeting to be held on February 22. According to the Ministry, FCBD meet will be co-chaired by Ajay Seth, Secretary (Economic Affairs) and Dr Michael D Patra, Deputy Governor of the RBI.

The Indian Presidency has designed the meeting agenda in a manner that can foster a meaningful exchange of ideas among Ministers and Governors on pragmatic and meaningful approaches to address some of the key global economic issues.

The meeting will be spread over three sessions on February 24-25, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21st century, financing for resilient, inclusive, and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains. These sessions will also cover issues related to the global economy, global health, and international taxation; the Ministry added.

On the sidelines of these meetings, a number of side events have been planned for the visiting ministers, governors, deputies and other delegates, on subjects such as Digital Public Infrastructure, Policy Perspectives on Crypto Assets and the role of National Payment Systems in Cross Border Payments, the Ministry maintained.

A ‘Ratri Bhoj Par Samvad’ and specially curated cultural programmes will also be organised for the Finance Ministers, Central Bank Governors and their delegations which will showcase India’s diverse cuisines and culture, the Ministry said.

A special event titled Walk the Talk: Policy in Action is also being organised, during which the Ministers and Governors will visit the Indian Institute of Science (IIS) to engage with tech-innovators and entrepreneurs who are working on affordable and scalable solutions to some of the challenges being faced by G20 member countries, the Ministry maintained.

“For the welcome of ministers, governor, deputies and delegates, we have organised cultural programmes showcasing India’s rich cultural odyssey across Karnataka — a land renowned for its deep rooted cultural and artistic heritage with diverse form of arts and crafts,” the Finance Ministry said, adding "the performance would reflect the artistry and splendour of Karnataka’s cultural ethos and legacy."

On February 26, delegates will be provided with an opportunity to enjoy the beautiful natural landscape of Karnataka, the Ministry maintained.