G20: 2nd Meeting of Global Partnership for Financial Inclusion Held in Hyderabad

Hyderabad: Secretary, Department of Economic Affairs, Union Ministry of Finance Ajay Seth said the theme  “One World, One Family, One Future” and that one future cannot be crafted without voicing the concerns of the emerging world.

Mr Seth was addressing the second meeting of the Global Partnership for Financial Inclusion (GPFI) at HICC in Hyderabad today.

In recent years, the G20 has helped the world navigate through multiple shocks and continues to provide guidance on global economic coordination.

India intends to further build upon it to make it even more relevant, especially for the Global South. He said India’s G-20 Presidency is thus an opportunity as well as a responsibility to encourage collective solutions and rebuild trust in multilateralism.

India has always stood for a greater role of developing countries in determining our common future, he added.

Telangana IT secretary Jayesh Ranjan said that T Wallet started by the State government is a  unique digital payment app introduced by the State government during the demonetisation of the rupees 500 note in 2017.

It was a time when there were few apps for digital payments, he said. Jayesh Ranjan was addressing the second meeting of the Global Partnership for Financial Inclusion (GPFI) at HICC in Hyderabad today.

He said the uniqueness of the TS wallet is it does not require a bank account or a smartphone. He said the T Wallet was introduced for the rural areas who are not tech savvy and the T Wallet did 35 million rupees in transactions in the last seven years having 1.39 million subscribers. T Wallet is an alternative to other apps like UPI etc.

Chanchal Sarkar, Economic Advisor, Ministry of Finance, Department of Economic Affairs also addressed.