Crypto Policy, Cross-Border Payments, Digital Public Infra On Agenda At G20 2nd Finance And Central Bank Deputies Meeting
1 year, 10 months ago

Crypto Policy, Cross-Border Payments, Digital Public Infra On Agenda At G20 2nd Finance And Central Bank Deputies Meeting

ABP News  

The second Finance and Central Bank Deputies Meeting under India’s G20 Presidency in Bengaluru will discuss road to policy for crypto assets, a symposium of digital public infrastructure, and enhancement of cross-border payment arrangements. Under the Indian Presidency, the First G20 Finance and Central Bank Deputies Meeting, was also held in Bengaluru during December 13-14, 2022. The deputies' meet will be followed by the first G20 Finance Ministers and Central Bank Governors meeting, scheduled to be held during February 24-25 in the same city. According to the statement issued by the central bank, eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets.

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History of this topic

Shaktikanta Das: Six major policy decisions in six years as RBI Governor
2 weeks ago

Shaktikanta Das: Six major policy decisions in six years as RBI Governor

India TV News  

Outgoing Reserve Bank of India Governor Shakti Kant Das has guided the country’s monetary policy through turbulent times during his six-year tenure. The central bank also announced a monetary policy including a Targeted Long-Term Repo Operations of Rs 1 lakh crore aimed at supporting critical sectors like MSMEs and NBFCs. Indian digital currency revolution Under Das’s leadership, India made significant …

Bengaluru auto driver gains social media fame for accepting cryptocurrency
3 months, 4 weeks ago

Bengaluru auto driver gains social media fame for accepting cryptocurrency

New Indian Express  

In Bengaluru, a city celebrated for its tech-savvy culture, a local auto-rickshaw driver has captured widespread attention by accepting cryptocurrency as payment for rides. His forward-thinking approach was spotlighted in a viral social media post shared on August 18, featuring a photo of the driver standing beside his auto-rickshaw, proudly displaying a sign that reads, “We accept cryptocurrency.” The post …

US Treasury official commends India's UPI system for cross-border payment leadership
1 year, 2 months ago

US Treasury official commends India's UPI system for cross-border payment leadership

India TV News  

In a speech at Harvard Law School, Jay Shambaugh, Under Secretary of the US Treasury for International Affairs, highlighted the role of India's Unified Payments Interface in advancing bilateral ties with nations like Singapore and the United Arab Emirates. Cross-border payment innovations gaining traction Shambaugh also noted that several ASEAN countries aspire to interlink their fast payment systems on a …

G20 finance leaders adopt roadmap on crypto assets
1 year, 2 months ago

G20 finance leaders adopt roadmap on crypto assets

Live Mint  

New Delhi: Finance ministers and central bank governors from G20 nations on Friday adopted a roadmap for regulating crypto assets proposed by the Financial Stability Board and the International Monetary Fund at their meeting at Marrakesh in Morocco. The ministers and central bank governors also decided in their joint communique to take forward key proposals from the New Delhi Leaders …

India's G20 presidency: A watershed moment in crypto regulation
1 year, 2 months ago

India's G20 presidency: A watershed moment in crypto regulation

Hindustan Times  

In the annals of global diplomacy, India's tenure at the helm of the G20 presidency will be remembered as a period of significant milestones and transformative initiatives. From thriving in a rapidly expanding crypto sector to navigating hurdles such as high taxes, shadow bans on banks working with crypto companies, and the inclusion of cryptocurrency under the purview of PMLA, …

As G-20 plans crypto regulatory framework, India may shelve plan for outright ban
1 year, 3 months ago

As G-20 plans crypto regulatory framework, India may shelve plan for outright ban

The Hindu  

With the G-20 countries agreeing to explore a coordinated regulatory framework for crypto assets, India could wait a while longer before firming up its domestic regulations for crypto currencies, and initiate a dialogue with stakeholders on the way forward. Any country can allow higher risks if they want, or ban it if they like, but whatever one does, it should …

On the Finance Track, G-20 to push forward on crypto regulation, MDB reforms next month
1 year, 3 months ago

On the Finance Track, G-20 to push forward on crypto regulation, MDB reforms next month

The Hindu  

Paving the way for a co-ordinated global approach to regulating cryptocurrencies, strengthening multilateral development banks’ lending capacity and replicating the use of digital public infrastructure like the India Stack to expand financial inclusion around the world, were some of the 10 major outcomes achieved under the Finance Track of India’s G-20 presidency. G-20 Summit 2023 Sept. 9 updates Discussions on …

India ’walked the talk’ under G20 presidency, says Sitharaman
1 year, 3 months ago

India ’walked the talk’ under G20 presidency, says Sitharaman

Live Mint  

New Delhi: India has 'walked the talk' to acheive its finance track objectives under its G20 presidency, finance minister Nirmala Sitharaman, said on Saturday. The key achievements of the finance track under the Indian G20 presidency include a plan to strengthen the Multilateral Development Banks to address shared challenges, laying down the building blocks for a globally coordinated policy and …

G20 nations commit to promote faster, inclusive cross-border payments
1 year, 3 months ago

G20 nations commit to promote faster, inclusive cross-border payments

India Today  

The G20 nations on Saturday resolved to promote faster, cheaper, more transparent and inclusive cross-border payments as envisaged in the G20 Roadmap for Enhancing Cross-border Payments. The New Delhi Leaders' Declaration, adopted by the G20 leaders, also appreciated the successful conclusion of the G20 TechSprint 2023, a joint initiative with the BIS Innovation Hub, which will promote innovative solutions aimed …

G20 Summit: 5 Charts on How India Got Almost Half a Billion People Into the Banking System
1 year, 3 months ago

G20 Summit: 5 Charts on How India Got Almost Half a Billion People Into the Banking System

News 18  

In his maiden Independence Day speech as Prime Minister on August 15, 2014, Narendra Modi broke convention by speaking extempore for 65 minutes. As the International Monetary Fund noted in a 2021 working paper, the excitement accrued from the fact that the introduction and expansion of the Jan-Dhan Yojana “coincided with a period of rapid increase in financial access, in …

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure
1 year, 3 months ago

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure

Firstpost  

India has developed some of the finest digital public goods infrastructure which could change lives the world over. Lauding India’s Digital Public Infrastructure, the World Bank has said that what the country has achieved in just six years would have otherwise taken about five decades. Highlighted the key measures taken by the Modi government in shaping the Digital Public Infrastructure …

G20 Summit 2023: World Bank lauds transformative impact of digital public infrastructure in India
1 year, 3 months ago

G20 Summit 2023: World Bank lauds transformative impact of digital public infrastructure in India

India TV News  

G20 Summit 2023 : The G20 Global Partnership for Financial Inclusion document prepared by the World Bank has lauded the transformative impact of Digital Public Infrastructure in India ahead of the G20 Summit in New Delhi - saying that the country has achieved in six years that would have otherwise taken five decades. Role of UPI, cross-border payments Additionally, India …

G20 Summit: IMF, FSB Propose Crypto Regulation Framework
1 year, 3 months ago

G20 Summit: IMF, FSB Propose Crypto Regulation Framework

ABP News  

In what is anticipated to be a significant development during India's tenure as G20 president, participating nations have concurred on the establishment of a global framework for the regulation of cryptocurrency assets, according to sources cited by ANI. Under the stewardship of the Indian G20 presidency, the recommendation for a common framework addressing debt vulnerability issues has also been put …

G20 summit 2023: Crypto market hopeful for constructive dialogue on global regulation
1 year, 3 months ago

G20 summit 2023: Crypto market hopeful for constructive dialogue on global regulation

India TV News  

As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. …

G20 could pave way for crypto regulation, financial inclusion push
1 year, 3 months ago

G20 could pave way for crypto regulation, financial inclusion push

The Hindu  

India’s G20 presidency could leave a lasting legacy for the world’s financial architecture by paving the way for a global template to regulate crypto assets, steering a shake-up of multilateral development banks that could yield additional financing of $200 billion over eight years to help countries deal with emerging challenges, and advancing financial inclusion. India has brought the regulation of …

India’s G20 presidency: For Virtual Digital Assets
1 year, 4 months ago

India’s G20 presidency: For Virtual Digital Assets

Hindustan Times  

Virtual Digital Assets were, for the longest period, considered forbidden fruits, capable of causing financial instability and compromising transactional integrity. An SOP focused on the four priority areas - Consumer and Investor Protection, Access to Law Enforcement Agencies to Address Fraudulent Practices, Regulatory Arbitrage and Financial Stability – holds the potential to address the existing lacunae in the VDA framework. …

Progress on crucial G20 finance issues: Nirmala
1 year, 8 months ago

Progress on crucial G20 finance issues: Nirmala

Hindustan Times  

The G20 finance track has made progress on issues of debt distress, with China “positively engaged” in the process; the reform of multilateral development banks with “broad-based unanimity” on “proportionate” spending on poverty, prosperity and climate goals; and the need to have a global understanding on crypto regulation based on the recognition that their flows can affect macro-economic stability, finance …

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman
1 year, 8 months ago

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman has said India’s G20 presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. She also said G20 is trying to bring together all countries to address debt distress in middle-income and low-income nations like Sri Lanka …

FM Sitharaman arrives in Washington for spring meetings, second G20 finance ministers meet
1 year, 8 months ago

FM Sitharaman arrives in Washington for spring meetings, second G20 finance ministers meet

Hindustan Times  

Washington: Finance minister Nirmala Sitharaman arrived in Washington on Sunday to attend the spring meetings of the International Monetary Fund and World Bank and chair the second G20 finance ministers and central bank governors meeting under the Indian presidency. India’s Finance Minister Nirmala Sitharaman meets Minister of Finance and Economic Affairs of the Republic of Malawi Sosten Gwengwe on the …

FM Sitharaman to attend 2023 Spring Meetings of World Bank, IMF this week
1 year, 8 months ago

FM Sitharaman to attend 2023 Spring Meetings of World Bank, IMF this week

Live Mint  

Union Finance Minister Nirmala Sitharaman on Monday will attend the 2023 Spring Meetings of the World Bank Group and International Monetary Fund and other G20 meetings in Washington. Sitharaman and Reserve Bank of India Governor Shaktikanta Das will jointly chair the 2nd G20 Finance Ministers and Central Bank Governors, FMCBG meeting on 12 April. The 2nd G20 FMCBG meeting will …

FM leaves for US; to host G20 meeting, attend IMF, World Bank meetings
1 year, 8 months ago

FM leaves for US; to host G20 meeting, attend IMF, World Bank meetings

Live Mint  

Finance Minister Nirmala Sitharaman will be leaving for the US to attend the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund, along with G20 meetings. During her week-long trip, she will be hosting the second G20 Finance Ministers and Central Bank Governors meeting under India's G20 Presidency and G20-related side events, said the finance ministry …

India to push for rupee trade agenda during G20 meetings: Official
1 year, 8 months ago

India to push for rupee trade agenda during G20 meetings: Official

India TV News  

India will be looking to push the rupee trade agenda with foreign countries during the G-20 meetings it is going to organise as part of its ongoing presidency of the forum, a senior bureaucrat said. The bureaucrat was responding to a question about whether India will be looking at the upcoming G-20 meeting of the trade and investment group as …

Crypto Regulation: India Collaborating With G20 Countries To Formulate Global Policy
1 year, 9 months ago

Crypto Regulation: India Collaborating With G20 Countries To Formulate Global Policy

ABP News  

Minister of State for Finance Pankaj Chaudhary on Monday informed the Parliament that India is working with G20 nations to establish a globally coordinated policy on crypto assets. Finance Minister Nirmala Sitharaman recently announced that there will be additional discussions on crypto assets during the IMF-World Bank Spring Meetings in April, to be held in Washington. Additionally, in July, the …

Crypto at G20 Summit: India recommends a joint technical paper by IMF & FSB on regulation
1 year, 9 months ago

Crypto at G20 Summit: India recommends a joint technical paper by IMF & FSB on regulation

India Today  

India has proposed a joint technical paper by the IMF and the FSB for help in the formulation of a coordinated and comprehensive policy approach to crypto assets. Both the above agencies are expected to present their papers in October this year, i.e., during the 4th G20 Finance Ministers and Central Bank Governors Meet, stated the Ministry of Finance, following …

Moving towards regulation on Cryptocurrency under India\'s G20 presidency: Nirmala
1 year, 9 months ago

Moving towards regulation on Cryptocurrency under India\'s G20 presidency: Nirmala

Deccan Chronicle  

Bengaluru: Union Finance Minister Nirmala Sitharaman on Saturday said that the government is progressing towards regulation on Crypto Currency under India's G20 presidency. "Further, in July, the FSB's paper on crypto assets regulation will be tabled so that it could be discussed at the next meeting of the finance ministers and central bank governors," she said. Speaking on the issue, …

IMF, FSB to flesh out crypto regulation in the wake of India’s push at G20
1 year, 9 months ago

IMF, FSB to flesh out crypto regulation in the wake of India’s push at G20

The Hindu  

The International Monetary Fund and the Financial Stability Board are set to formulate a technical paper in a bid to attain a coordinated global approach for the regulation of crypto assets as proposed by the Indian Presidency of the G20. The idea had found backing from U.S. Treasury Secretary Janet Yellen, who also mooted international cooperation to set high regulatory …

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting
1 year, 10 months ago

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting

India Today  

India’s digital payments ecosystem has radically transformed governance and financial inclusion over the past few years, said Prime Minister Narendra Modi while addressing the G20 Finance Ministers' and Central Bank Governors' Meeting. Our digital payments ecosystem has radically transformed governance, financial inclusion and ease of living,” said PM Modi. READ | Budget 2023 will make India leading player in global …

FM meets US Treasury Secretary ahead of G20, discuss crypto regulation and more
1 year, 10 months ago

FM meets US Treasury Secretary ahead of G20, discuss crypto regulation and more

India Today  

Before the first G20 meeting, the Finance Ministers and Central Bank Governors conference was held on Thursday under the G20 Indian Presidency. The recent meeting included the finance ministers and central bank governors of G20 member countries, invitee countries, and leaders of major international organisations; almost 500 foreign delegates in Bengaluru. Conversations around crypto On this occasion, Konix, a crypto …

Inbound Travellers From G20 Countries Can Avail UPI Facility At Three Airports, Says RBI
1 year, 10 months ago

Inbound Travellers From G20 Countries Can Avail UPI Facility At Three Airports, Says RBI

ABP News  

The Reserve Bank of India on Tuesday said inbound travellers from G20 countries arriving at Mumbai, Delhi, and Bengaluru international airports would be able to use Unified Payments Interface for merchant transactions. According to the statement issued by the central bank, eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets. To …

Inbound travellers from G20 countries visiting India can avail UPI facility at 3 airports: RBI
1 year, 10 months ago

Inbound travellers from G20 countries visiting India can avail UPI facility at 3 airports: RBI

India TV News  

The Reserve Bank of India on Tuesday started the facility to enable all inbound travellers visiting India to make local payments using UPI during there stay in India. Eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets. To begin with, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine …

Crypto Regulation: Nirmala Sitharaman Says India Discussing SoP Development For Assets With G-20 Nations
1 year, 10 months ago

Crypto Regulation: Nirmala Sitharaman Says India Discussing SoP Development For Assets With G-20 Nations

ABP News  

Finance Minister Nirmala Sitharaman on Monday said India is discussing with the G-20 member countries the need to develop a standard operating protocol for regulating crypto assets. She said crypto assets and web3 are relatively new and evolving sectors, and require significant international collaboration for any specific legislation on these sectors to be fully effective. In reply to a separate …

Travellers from G20 can use UPI for payments at select airports: RBI Governor
1 year, 10 months ago

Travellers from G20 can use UPI for payments at select airports: RBI Governor

Hindustan Times  

The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood. It is now proposed to permit all …

India great example of how financial inclusion can work: German envoy Manfred Auster at G20 meeting in Kolkata
1 year, 11 months ago

India great example of how financial inclusion can work: German envoy Manfred Auster at G20 meeting in Kolkata

The Hindu  

India is a great example of how to bring about financial inclusion and it needs to share this experience with the world at large, a German diplomat, who was a part of the delegation at a recent G20 meeting in Kolkata, said. Explained | All about the G20: History of the forum and India’s presidency "India is a great example …

G20 under India's presidency can make concrete progress in debt relief, crypto, climate finance: Gita Gopinath
2 years ago

G20 under India's presidency can make concrete progress in debt relief, crypto, climate finance: Gita Gopinath

Firstpost  

India has assumed the G20 President from 1 December this year from Indonesia. For the first time, the country in 2023, the country will convene G20 Leaders’ Summit Washington: G-20, under India’s presidency, can make concrete progress on three critical areas: debt relief, regulations of crypto currency and climate finance, International Monetary Fund’s First Deputy Managing Director Gita Gopinath said. …

G20 Summit 2023 : Members support India’s finance priorities
2 years ago

G20 Summit 2023 : Members support India’s finance priorities

The Hindu  

The first G20 Finance and Central Bank Deputies meeting has received the support on the proposed priorities of India’s G20 Finance Track agenda for 2023, said Ajay Seth, Secretary, Department of Economic Affairs. The first G20 FCBD meeting is being held in Bengaluru between December 13 and 15, and Mr. Seth told reporters on Wednesday that overall, the meeting saw …

G20 Finance and Central Bank Deputies meeting underway in Bengaluru
2 years ago

G20 Finance and Central Bank Deputies meeting underway in Bengaluru

Hindustan Times  

The first meeting of Finance and Central Bank Deputies under India's G20 Presidency got underway here on Tuesday. With its focus on global macroeconomic issues, the Finance Track is quintessential to G20 shaping the global architecture on all major international economic issues," a tweet from G20 India twitter handle said. The G20 Finance Track, led by Finance Ministers and Central …

India to seek harmony in crypto regulation in G-20 finance talks
2 years ago

India to seek harmony in crypto regulation in G-20 finance talks

The Hindu  

A coordinated approach to regulating crypto assets, managing debt vulnerabilities and reorienting global financial institutions have been identified as critical focus areas of the Finance Track agenda for India’s G-20 Presidency, which will kick-off with the first meeting of G-20 Finance and Central Bank Deputies in Bengaluru on Tuesday. Finance Minister Nirmala Sitharaman and Reserve Bank of India Governor Shaktikanta …

Bengaluru to host first meeting of G20 Finance Track
2 years ago

Bengaluru to host first meeting of G20 Finance Track

Deccan Chronicle  

New Delhi: Bengaluru is all set to host the first meeting of the G20 Finance Track under India's G20 Presidency. First G20 Finance and Central Bank Deputies Meeting are scheduled to be held in Bengaluru on December 13-15 2022, said Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance in an exclusive interview with ANI. Bengaluru will host the …

G20 presidency | India aims at developing tech driven regulatory framework for cryptocurrency, says Sitharaman
2 years, 2 months ago

G20 presidency | India aims at developing tech driven regulatory framework for cryptocurrency, says Sitharaman

The Hindu  

India is aiming at developing standard operating procedures for cryptocurrency during its G20 presidency next year, Union Finance Minister Nirmala Sitharaman has said, underlining that all countries want the technology to survive but not be misutilised. “That will also be part of India's thing,” Ms. Sitharaman told a group of Indian reporters on Saturday before concluding her trip to Washington …

Budget 2022 memes take over Internet after Nirmala Sitharaman's speech. Best ones
2 years, 10 months ago

Budget 2022 memes take over Internet after Nirmala Sitharaman's speech. Best ones

India Today  

Finance Minister Nirmala Sitharaman shared some important changes in the Union Budget 2022. In this year’s paperless budget, Nirmala Sitharaman brought up important points like the auction of the 5G spectrum, allocating funds for the Nal Se Jal scheme and many more. #Budget2022 pic.twitter.com/9498x6GKN4 — Sagar February 1, 2022 Cryptocurrency investors didn't quite expect this: Raju from Hera Pheri is …

Cryptocurrency Curbs in India: How Other Nations are Treading the Digital Currency Path
3 years ago

Cryptocurrency Curbs in India: How Other Nations are Treading the Digital Currency Path

News 18  

India is all set to bring in new rules to regulate cryptocurrency as the Union government plans to introduce a Bill to ban all private cryptocurrencies in the upcoming winter session of Parliament. As per the Lok Sabha Bulletin released on Tuesday, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to create a facilitative framework for the …

Union Budget 2022: The Rise of RBI-backed Digital Rupee and Stablecoins
3 years ago

Union Budget 2022: The Rise of RBI-backed Digital Rupee and Stablecoins

News 18  

For several months, my stand on cryptocurrencies, assets, and exchanges has been unambiguous and unwavering — that they should be banned outright, without further ado or delay; instead, a comprehensive regulatory framework should be built around the Central Bank Digital Currency. Finance Minister Nirmala Sitharaman in her Budget speech announced that India’s very own digital rupee backed by blockchain technology …

Don't miss the cryptocurrency boat, experts say on India's proposed regulations
3 years, 9 months ago

Don't miss the cryptocurrency boat, experts say on India's proposed regulations

India Today  

India’s cryptocurrency investors are staring at a new set of regulations that may stifle the trading and existence of global cryptocurrencies in the country. The government plans to introduce a bill — The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 — in Parliament to ban companies and individuals from trading in cryptocurrencies. Bought some Dogecoin for lil X, …

Budget 2021: Centre lists bill to ban all cryptocurrencies in India, create official digital currency
3 years, 10 months ago

Budget 2021: Centre lists bill to ban all cryptocurrencies in India, create official digital currency

India TV News  

In this Budget 2021 session, the Centre plans to introduce a bill to ban the all cryptocurrencies in India such as Bitcoin. The government will also put in place the framework for an official digital currency to be issued by the Reserve Bank of India. The new bill has been titled as ‘The Cryptocurrency and Regulation of Official Digital Currency …

RBI plans its own cryptocurrency, proposed crypto law may ban Bitcoins and Dogecoins in India
3 years, 10 months ago

RBI plans its own cryptocurrency, proposed crypto law may ban Bitcoins and Dogecoins in India

India Today  

The government is likely to introduce a bill during Budget session 2021 that would ban private cryptocurrencies, including Bitcoin. The government aims to introduce an official digital currency that would be directly issued by the Reserve Bank of India. “To create a facilitative framework for creating the official digital currency to be issued by the Reserve Bank of India. Reacting …

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