Finance ministers and central bank governors’ meeting under India’s G20 Presidency

19 February, 2023 | Pragati Singh

G20 Top News

Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will co-chair the meeting.

The first meeting of G20 Finance Ministers and Central Bank Governors under India’s G20 Presidency is slated for February 24-25 in Bengaluru. Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will co-chair the meeting.

“The first G20 FMCBG meeting under the G20 India’s Presidency will see the participation of Finance Ministers and Central Bank Governors of the G20 members, invitee members and heads of International Organizations. In total, there will be 72 delegations attending the meeting,” economic affairs secretary Ajay Seth told ANI.

The G20 Finance Ministers and Central Bank Governors (FMCBG) meeting will be preceded on February 22, 2023, by a meeting of G20 Finance and Central Bank Deputies (FCBD), co-chaired by Ajay Seth, Secretary (Economic Affairs), and Michael D Patra, Deputy Governor of the Reserve Bank of India.

Anurag Thakur, Union Minister for Information and Broadcasting, Youth Affairs and Sports, will preside over the meeting of central bank deputies. Seth went on to say that India’s G20 presidency has framed the meeting agenda to enable a meaningful exchange of views on realistic and meaningful approaches to addressing important global economic concerns.

The meeting will be divided into three sessions, according to the secretary, and will cover topics such as strengthening multilateral development banks to address shared global challenges of the twenty-first century, financing for resilient, inclusive, and sustainable “cities of tomorrow,” and leveraging Digital Public Infrastructure (DPI) to advance financial inclusion and productivity gains.

“The sessions will also cover issues related to global economy, global health, and international taxation,” he said, adding that the discussions in the G20 finance ministers and central bank governors meeting are intended to provide a clear mandate for the various workstreams of the G20 Finance Track in 2023.

On the fringes of the main meeting, a variety of side events have been arranged for visiting delegates on topics such as Digital Public Infrastructure, Policy Views on Crypto Assets, and the Role of National Payment Systems in Cross Border Payments.

For the Finance Ministers, Central Bank Governors, and their delegations, a ‘Ratri Bhoj Par Samvad’ and carefully selected cultural programmes will be prepared to highlight India’s rich cuisines and culture.

“For the welcome of ministers, governors, deputies and delegates, we have organised cultural programmes showcasing India’s rich cultural odyssey across Karnataka. Karnataka is a land renowned for its deep-rooted cultural and artistic heritage with diverse forms of arts and crafts. The performances will reflect the artistry and splendour of Karnataka’s cultural ethos and legacy,” he added.

A special event titled Walk the Talk: Policy in Action is also being planned, during which the Ministers and Governors will visit the Indian Institute of Science to meet with tech-innovators and entrepreneurs working on affordable and scalable solutions to some of the G20 member countries’ challenges.