G20 Finance and Central Bank Deputies FCBD meeting as part of India’s G20 presidency began in Gandhinagar today. On the first day of the FCBD meeting, the delegates deliberated upon streamlining the financial priorities of the working groups under India’s G-20 presidency. The communiqué drafting is also underway. On the sidelines of the meeting, two panel discussions on ‘Policy issues concerning BigTech and FinTech, including the Third-Party Risk Management Framework’ were also organized. Mr. T. Rabi Sankar, Deputy Governor, Reserve Bank of India delivered the keynote address. The panelists exchanged views on evolving regulations for third-party service providers, such as BigTech and FinTech, without compromising on public policy objectives.

The two-day FCBD meeting is being organised ahead of the third G20 Finance Ministers and Central Bank Governors (FMCBGs) meeting which is scheduled to take place at Gandhinagar in Gujarat on 17 and 18 July. Union Finance and Corporate Affairs Minister Nirmala Sitharaman and Governor of the Reserve Bank of India (RBI), Dr. Shaktikanta Das, will jointly chair the FMCBG meeting. Nearly, 500 delegates including Governors, Deputy Governors, Ministers, and Heads from G-20 nations, invited countries and international organizations are participating in the meetings.