The G-20 Finance and Central Bank Deputies Meeting, under the Indian Presidency, was held in Bengaluru, Karnataka, during December 13-14, 2022, under the co-chairship of Secretary, Economic Affairs, Ajay Seth and Deputy Governor, Reserve Bank of India, Michael Patra.
Macroeconomic impacts of RBI’s digital currency or Central Bank Digital Currency (CBDC) and its use cases will be discussed in a priority in the coming days said Ajay Seth, Secretary, of the Department of Economic Affairs, addressing the media on Wednesday post India’s first G-20 finance and central bank deputies meeting.
Along with other topics, the macroeconomic implications of CBDC and its use cases is one the priority to be discussed and worked upon during the year,” Seth said. Reserve Bank of India (RBI) launched the pilot for the retail version. The retail digital rupee, or e₹-R, can be used by people for day-to-day transactions.
The G-20 Finance and Central Bank Deputies Meeting, under the Indian Presidency, was held in Bengaluru, Karnataka, during December 13-14, 2022, under the co-chairship of Secretary, Economic Affairs, Ajay Seth and Deputy Governor, Reserve Bank of India, Michael Patra.
The meeting saw a gathering of over 160 foreign delegates including Deputies from G20 member countries, invitee countries, and International Organisations. The meeting was conducted with the aim of seeking the views of G20 members on India’s G20 Finance Track priorities for 2023 across various workstreams
The discussions focused on issues relating to the global economy and risks, strengthening Multilateral Development Banks (MDBs), managing global debt vulnerabilities, financing climate action and Sustainable Development Goals (SDGs), and building resilient, inclusive, and sustainable cities of tomorrow.