Prime Minister Narendra Modi on Friday, while addressing G20 Finance Ministers’ and Central Bank Governors’ (FMCBG) meeting, lauded the country’s digital payments ecosystem and said that it has “radically transformed governance, financial inclusion and ease of living”.
“Over the past few years, we’ve created a highly secure, trusted, and efficient public digital infrastructure. Our Digital payments ecosystem has radically transformed governance, financial inclusion & ease of living,” said PM Modi.
Talking about the global economy, the PM said that India will transmit a positive spirit.
“Indian consumers and producers are optimistic and confident about the future. We hope that you will be able to transmit the same positive spirit to the global economy,” the PM added.
During the G20 presidency, the Government of India (GOI) created a new Fintech platform, which allows G20 guests to use India’s path-breaking digital payment platform UPI, PM informed.
During the meeting, he also talked about the Covid pandemic’s impact on developing countries.
“The Covid-19 pandemic had delivered a once-in-a-century blow to the global economy,” PM underlined and said that many developing economies were still coping with its after-effects.
In Bengaluru, Karnataka, the First G20 Finance Ministers, and Central Bank Governors meeting under the G20 Indian Presidency is scheduled for 24th-25th February. In total, 72 delegations are attending the meeting.
The Indian Presidency has designed the meeting agenda in a manner that can facilitate a meaningful exchange of ideas among governors and ministers on meaningful and pragmatic approaches to address some of the key global economic issues.
On the sidelines of these meetings, many side events have been planned for the visiting governors, ministers, deputies, and other delegates, on subjects such as Policy Perspectives on Crypto Assets, Digital Public Infrastructure, and the role of National Payment Systems in Cross Border Payments.
On 26th February the delegates will have an opportunity to enjoy the beautiful natural landscape of Karnataka.