Page 33 - G20

More nations interested in using UPI: RBI deputy governor T Rabi Sankar

Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC

India is 15% of solution G20 is looking for economic growth: Jaishankar

External Affairs Minister S Jaishankar on Thursday said India is "15 per cent of the solution" the G20 is looking for in terms of economic growth and development. He was speaking at the Festival of Thinkers, an event organized by Symbiosis International University here. The minister cited managing director of the International Monetary Fund Kristalina Georgieva's statement that in "otherwise a fairly gloomy global economic scenario" India's GDP base is growing at seven percent and is likely to increase in the coming decade. "Kristalina Georgieva tells that 15 percent of the world's growth this year is going to come from India, that means we are 15 percent of the solution that the G20 is looking for in terms of economic growth and development, but it isn't just growth, the G20 is actually looking at how we handled the COVID challenges," said Jaishankar. India's G20 presidency began in December 2022. The G20 countries have noted India's success in effectively vaccinating its vast .

FM pitches framework to regulate crypto in meeting with G20 ministers

Finance minister Nirmala Sitharaman on Thursday pitched for a global framework to regulate cryptocurrencies, besides firming up ways to tackle global debt vulnerabilities and strengthening multilateral development banks during bilateral meetings with her counterparts, including from US and Japan, ahead of the G-20 meeting. The finance ministers of the G20 countries, which is a grouping of developed and developing nations, are here to participate in the two-day meeting of G20 finance ministers and central bank governors (FMCBG) beginning February 24. Under the G20 Presidency, India will be pressing for a global framework to regulate the cryptocurrencies, ways to tackle the aggravated debt vulnerabilities facing the developing nations mainly on account of the continuing geopolitical tensions and the pandemic. It is feared that if left unaddressed, the mounting debt vulnerabilities of developing nations could trigger global recession and push millions to extreme poverty. The minister

G20 meet expected to address big challenges of digital world: Jaishankar

External Affairs Minister S Jaishankar on Thursday said data security and data privacy are the biggest challenges of the digital world and issues connected to them are expected to be addressed during the G20 meeting. The EAM was addressing the 'Festival of Thinkers' organised by the Symbiosis International University here. Jaishankar said the G20 meeting was taking place at a time when factors like the Ukraine-Russia war, the COVID pandemic and its effects on the world stage had created "multiple layers of stress". Stressing that one of the new factors at play was digital, he said, "We still have not fully appreciated it but digital has changed our lives. Every time you look at the screen, you are learning something but somebody is also learning something about you, your habits, your likes, dislikes, demands, and preferences." Speaking on how power among nations will be determined in the background of digitisation, he said there was a time when wealth and military strength and gold

Russia-Ukraine crisis to have impact on G20 proceedings: EU Ambassador

Europe understands India's position in continuing with procurement of crude oil from Russia and it appreciates New Delhi's overall stand on the Ukraine conflict, Ambassador of European Union Ugo Astuto said on Thursday on the eve of the one-year anniversary of Russia's invasion of the neighbouring country. With India set to host a crucial meeting of the foreign ministers of G20 states after five days, Astuto also said it is not a "business as usual situation" and the crisis will have an impact on the proceedings of the grouping. At the same time, the envoy asserted that the European Union trusts the Indian presidency of G20 to make the proceedings productive in that respect. In an exclusive interview to PTI, the ambassador of the 27-nation European Union said the Indian voice on the conflict is an influential one and that there is appreciation in Europe of Prime Minister Narendra Modi's statement that it is not time for war. "When it comes to G20, inevitably we are not in a ...

At G20 event in Bengaluru, India and G7 differ over using the term 'war'

India is averse to using the term 'war' in relation to Ukraine, and softer terms like 'crisis' are not acceptable to the G7 members

G20: India stresses diplomacy as world marks a year of war in Europe

The FMCBG meeting will look to find lasting solutions to the issue of unsustainable debt in some low- and middle-income nations

Under G20 presidency, 'green growth' priority for India: Bhupender Yadav

India has already submitted its Long-Term Low Emission Development Strategy document at COP 27

G20: IMF, World Bank to convene global debt roundtable in Bengaluru

Georgieva said while 2023 will be another challenging year, it could represent a turning point - with inflation declining and growth bottoming out

India likely to propose expert G20 group for World Bank reforms: Sources

The World Bank Group's climate change action plan for 2021-2025 has set a target to deploy an average of 35% of the institution's financing in support of climate action

Host India doesn't want G20 to discuss Russia sanctions further: Report

The sanctions would also seek to do more to stem the trans-shipment of oil and other restricted goods through bordering countries

Host India does not want G20 to discuss more sanctions on Russia: Report

The officials said the war's macroeconomic impact would be discussed but India does not want to deliberate on additional actions against Russia

G20 can contribute to finding solutions to global challenges: Anurag Thakur

Union Minister Anurag Singh Thakur on Wednesday said the G20 can contribute significantly to find a solution to global challenges such as climate change and geo-political tensions. Speaking at the inaugural session of the G20 Second Finance and Central Bank Deputies (FCBD) Meeting here, he noted that the theme of India's G20 Presidency is Vasudhaiva Kutumbakam' (one earth, one family, one future). The world is facing the lingering effect of COVID pandemic, issues around food and energy security, and inflation, worsening climate change and geo-political tensions, the Union Minister for Information and Broadcasting, and Youth Affairs & Sports said in his address. He pointed out that the impact of these crises can affect the progress of key developmental paradigm. The G20 can make significant contribution to find pragmatic solutions to these challenges through a focused and thoughtful dialogue and deliberations, he told the gathering. The theme Vasudhaiva Kutumbakam' reflects the ...

G20 culture track meet to kick off in Khajuraho, delegates to visit temples

The first G20 meeting under the culture track will begin from Wednesday in Madhya Pradesh's Khajuraho, and the delegates will engage in a range of activities, besides visiting its iconic temples and the Panna Tiger Reserve. Khajuraho is home to an exquisite group of temples -- part of a UNESCO World Heritage Site. The first G20 Culture Working Group (CWG) meeting will begin from tomorrow at Khajuraho. The meeting is scheduled to be organised from February 22-25. Union Minister for Culture, Tourism and DoNER, G Kishan Reddy, Madhya Pradesh Chief Minister Shivraj Singh Chouhan, Union Minister for Social Justice and Empowerment Virendra Kumar and Minister of State for Culture Meenakashi Lekhi, will inaugurate an exhibition titled 'Re(ad)dress: Return of Treasures' at the Maharaja Chhatrasal Convention Centre (MCCC) tomorrow, the Culture Ministry said in a statement on Tuesday. Protection and restitution of cultural heritage will be the theme for the first G20 culture track, a top ...

Delhi govt to put vintage cars, motorcycles on display ahead of G20 Summit

Nearly 50 vintage cars, including a 1928 Rolls Royce Phantom I, and more than 20 classic motorcycles will be put on display at an event here on Sunday being organised by the Delhi government in the lead-up to the G20 Summit. The event, "Vintage for Life -- The G20 Vintage Vehicles Drive", is being co-hosted by the Delhi government's Transport Department in partnership with the Heritage Motoring Club of India (HMCI), and will be flagged off by Lieutenant Governor V K Saxena on February 26 from the Major Dhyan Chand National Stadium. "About 50 vintage cars, and 23 vintage motorcycles and bikes will be part of the event that also puts special focus on the G20. The oldest cars taking part in it is of 1928 vintage while the least old is of 1970s period," a senior official of HMCI told PTI. The 1928 vintage cars include a Rolls Royce Phantom I and a Model A Ford, he said. The rally seeks to shine a spotlight on the fact that India is chairing the G20 at present, as also to spread the ...

Travellers from G20 nations can avail UPI facility at 3 airports: RBI

The RBI on Tuesday said travellers from G-20 countries arriving at Bengaluru, Mumbai and New Delhi international airports can get Prepaid Payment Instruments wallets linked to UPI for making payments to over five crore merchant outlets across India. Earlier this month, the Reserve Bank made an announcement regarding allowing access to UPI to foreign nationals and NRIs visiting India. To start with, the RBI said, the facility is available to travellers from G-20 countries, at select international airports (Bengaluru, Mumbai and New Delhi). Eligible travellers would be issued Prepaid Payment Instruments (PPI) wallets linked to UPI for making payments at merchant outlets. "Delegates from G20 countries can also avail of this facility at various meeting venues," the RBI said. Initially, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Private Limited and Transcorp International Limited will issue UPI-linked wallets. "Travellers visiting India can now experience the

India will be an effective voice of developing nations at G-20: DEA Secy

In a Q&A, Ajay Seth says while the global macro-economic situation has improved over the past few months, headwinds on inflation and other indicators persist

Why is India concerned about lending programme of IMF, WB for poor nations?

Eleven nations have signed a note where they have argued against the Bank taking on the responsibility to lend more, thereby raising interest costs for the borrowers

G-20: India taps soft power as it backs issues important to Global South

India is one of the fastest-expanding economies at a time of sluggish growth around the globe, luring companies like Apple Inc. to expand

EU trusts India's G20 Presidency to find a way in Russia-Ukraine war: Envoy

"We're not living in a business-as-usual situation. The Russian invasion of Ukraine is totally unjustified, a clear violation of the UN Charter," he said