G20 Global Partnership for Financial Inclusion (GPFI)

What is G20 Global Partnership for Financial Inclusion (GPFI)?

• The meeting will be attended by G20 member countries, guest countries and international organizations invited by India.
• It will focus on topics like digital financial inclusion, reducing remittance costs, and finance for the SME sector.
• The three-day event will feature symposiums, exhibitions and a domestic outreach programme on digital financial literacy involving over 1,800 school students.
• 12 international speakers will attend the G20 meeting. Institutions like NABARD will highlight the rural area coverage of innovative financial products and services.

 

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Q1) What is financial inclusion?

Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered responsibly and sustainably.

Source: G20 meet to focus on digital financial inclusion.