The First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the G20 Indian Presidency is scheduled during 24^th-25^th February, 2023, begins tomorrow, in Bengaluru, Karnataka.

Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, and Dr Anantha V. Nageswaran, Chief Economic Advisor, Ministry of Finance, while addressing a press briefing here said that Union Finance Minister Smt. Nirmala Sitharaman and Governor, Reserve Bank of India (RBI), Dr Shaktikanta Das will jointly chair this meeting.

Shri Seth informed the media that the G20 FMCBG meeting will be preceded by a meeting of G20 Finance and Central Bank Deputies (FCBD) on 22^nd February, 2023. The FCBD meeting will co-chaired by Shri Seth, and Dr Michael D. Patra, Deputy Governor, RBI.

Union Minister for Information & Broadcasting and Youth Affairs & Sports, Government of India, Shri Anurag Thakur, will inaugurate the G20 FCBD meeting tomorrow. 

The 1^st G20 FMCBG meeting under the G20 Indian Presidency on 24^th-25^th February will see the participation of Finance Ministers and Central Bank Governors of the G20 members, invitee members and heads of International Organisations. In total, there will be 72 delegations attending the meeting.

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^th-25^th, covering issues such as strengthening multilateral development banks to address shared global challenges of the 21^st century, financing for resilient, inclusive and sustainable ‘cities of tomorrow’, leveraging Digital Public Infrastructure (DPI) for advancing financial inclusion and productivity gains. The sessions will also cover issues related to global economy, global health, and international taxation.

The discussions in the G20 FMCBG meeting are intended to provide a clear mandate for the various workstreams of the G20 Finance Track in 2023.

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.

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.

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.

For the welcome of ministers, governor, deputies and delegates, Shri Seth said that 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 are being organised.  The performance would reflect the artistry and splendour of Karnataka’s cultural ethos and legacy.

On 26^th February choices of excursions have been provided for the delegates to provide them an opportunity to enjoy the beautiful natural landscape of Karnataka, the Secretary said.

G20 finance ministers meeting advances multilateral development banks, DPI, financial inclusion, taxation, policy coordination and cross-border payments. The FMCBG meeting on 24-25 February 2023 in Bengaluru, preceded by an FCBD meeting on 22 February, will gather 72 delegations including G20 members, invitees and international organisation heads to provide mandates for the 2023 G20 Finance Track. Agenda items include strengthening multilateral development banks, financing resilient and sustainable cities, leveraging Digital Public Infrastructure for financial inclusion and productivity, and examining global economy, global health and international taxation; side events will cover DPI, crypto asset policy perspectives and national payment systems in cross-border payments.