G20 commences financial inclusion summit in Mumbai today

Mumbai is set to host the dynamic Fourth G20 Global Partnership for Financial Inclusion (GPFI) Meeting, scheduled from September 14 to 16, 2023. This high-profile gathering will assemble a diverse array of over 50 delegates hailing from G20 member nations, special invitee countries, and esteemed international organizations. 

The meeting’s central focus revolves around catalysing progress within the realm of financial inclusion during G20 India’s Presidency, with a spotlight on two pivotal areas: Digital Financial Inclusion and SME Finance. 

Kicking off the event with a flourish, a thought-provoking Symposium on Digital Public Infrastructure’s role in revitalizing Micro, Small, and Medium-sized Enterprises (MSMEs) is slated for September 14, 2023. This Symposium promises engaging panel discussions featuring global experts exploring two core themes: “Energizing MSMEs for Higher Economic Growth through Digital Public Infrastructure” and “Credit Guarantees and SME Ecosystems.” Expect deep insights into how Digital Public Infrastructure can accelerate the financial inclusion journey for MSMEs. 

In the following two days, GPFI members will delve into critical topics, including the implementation of the G20 GPFI High-Level Principles for Digital Financial Inclusion, updates on National Remittance Plans, and the sharing of SME best practices and innovative strategies to conquer the common hurdles in SME financing. 

Not to be missed, another enlightening Symposium, titled “Advancing Financial Inclusion through Digital Public Infrastructure: Empowering Consumers through Digital and Financial Literacy and Consumer Protection,” will be a pivotal part of the GPFI Meeting on September 16, 2023. 

Also read: G20 Summit 2023 Guest List

Amidst the rigorous discussions, delegates attending the 4th GPFI WG meeting will also embark on an enriching visit to the historic Kanheri Caves, adding a touch of cultural exploration to this impactful event. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.