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India hosts first meeting of the BRICS finance and central bank deputies of 2021

India hosted the first meeting of the BRICS finance and central bank deputies of 2021 in virtual mode on Wednesday, according to a statement from the finance ministry.

India had assumed the BRICS chairship for this year, at a time when the organisation, formed by the nations of Brazil, India, Russia, China and South Africa, was celebrating its 15th anniversary.

The meeting was co-chaired by Tarun Bajaj, economic affairs secretary and Michael Patra, deputy governor of the Reserve Bank of India, under the theme, ‘BRICS@15: Intra-BRICS Cooperation’.

The priorities for the year, set by India, included the global economic outlook and response to Covid-19 and social infrastructure financing.

The issues discussed ranged from the activities of the New Development Bank, fintech for small and medium enterprises, financial inclusion and the BRICS contingent reserve arrangement, which is a framework for the provision of support through liquidity and precautionary instruments in response to actual or potential short-term balance of payments pressures.

Read More at https://m.economictimes.com/news/economy/policy/india-hosts-first-meeting-of-the-brics-finance-and-central-bank-deputies-of-2021/amp_articleshow/81193094.cms

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