Need for digital financial inclusion forms basis of discussion as G20 meeting kicks off in Kolkata

Experts and delegates from India and abroad on Monday underscored the significance of digital financial inclusion and an adequate ecosystem for it, addressing a variety of sessions at a G20 meeting here.

The first Global Partnership for Financial Inclusion meeting of the G20 got underway in Kolkata earlier in the day, which will conclude on January 11.

“We have gathered notable insights and valuable database from the discussions during the sessions… in order to make the make the post-pandemic recovery more inclusive and sustainable, financial inclusion is going to be key enabler, and we must all put our voices behind it to boost our reach so that no one is left behind,” said Chanchal Sarkar, Economic Advisor, Ministry of Finance, Department of Economic Affairs.

The need to address the digital divide not only within India, but also in other countries, was also highlighted by the speakers on Monday, Sarkar said.

The first day’s sessions included deliberations on the role of digital public infrastructure in financial inclusion & productivity gains, and the digital financial ecosystem.

An exhibition on Digital Innovations for Advancing Financial Inclusion was also organised.

Among those who spoke were senior officials from the World Bank, Monetary Authority of Singapore, France and Estonia.

Unique Identity Authority of India (UIDAI) CEO Saurabh Garg and National Payments Corporation of India (NPCI) MD & CEO Dilip Asbe also addressed Monday’s sessions.

During an address to the delegates, West Bengal Chief Minister Mamata Banerjee said her government works to give a humane face to the development that it brings about in the state.

Banerjee said Bengal’s welfare programmes, including those on women empowerment, have been designed to push for digital and financial inclusion of the poorest sections of society.

Sarkar had Sunday said the focus of the three-day G20 meeting will be on the digital financial inclusion principles, reduction of remittance costs and finance availability for SMEs, India assumed the presidency of the influential bloc G20 at its annual summit in Bali in November last year, with a promise of striving to ensure that the grouping acts as a global prime mover to envision new ideas and accelerate collective action to deal with pressing challenges.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)