[ad_1]
The B20 task force on financial inclusion for economic empowerment has identified 11 key themes to boost global financial inclusion, the State Bank of India Chairman and Chair, B20 India Task Force on Financial Inclusion for Economic Empowerment, India, Dinesh Khara, said on August 25.
“We have identified 11 priority themes for financial inclusion. The key priority themes are around private sector involvement in financial inclusion, digital public sector roll-out, capacity building through incubation and literacy.
The themes also include gender and diversity inclusive finance, reducing cost of borrowing for underserved segments, harnessing power of BCs, targeted intervention of agriculture and rural segments, incentivising cross border payments and innovation, increasing insurance, savings and wealth management penetration, enhancing consumer protection, inclusive policy design and governance,” Khara said at the B20 Summit on August 25.
Uday Kotak who is the B20 Chair for India Task Force on Financing for Global Economic Recovery stressed on the need for $4.5 trillion in financing over the next 7-10 years to support the B20 recommendations, adding that every company in India contributes 2 percent of the net profit in corporate social responsibility (CSR).
Also read: Reimagining India’s global opportunity with Atmanirbhar Bharat’s leading voices
While addressing the opening session of the three-day B20 Summit in New Delhi, the managing director and chief executive officer of Kotak Mahindra Bank added that every Indian company should voluntarily, or through regulation should contribute 0.2 percent of their profits to the G20 goals.
The veteran banker said we have zeroed down on four priority areas such as climate change, energy, biodiversity, and ocean pollution. The key focus will be on financing these four priority sectors.
[ad_2]
Source link