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Global Partnership for Financial Inclusion
January 14 , 2023
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- The three-day G20 meeting on ‘Global Partnership for Financial Inclusion’ concluded in Kolkata.
- It had a discussion on several issues, including digital financial inclusion, remittances and availability of finance for small and medium-sized enterprises.
- G-20 leaders focused on the high remittance cost for workers outside India.
- Efforts are underway to bring the rate down to an average of 3 per cent by 2027.
- At present, the remittance cost, on average, stands at around 6 per cent of each transaction.
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