India, UK focus on sustainable finance, crypto belongings

NEW DELHI : India and the UK held the second India-UK monetary markets dialogue in London on Wednesday, the place senior officers from each nations, together with representatives from regulatory businesses, mentioned key areas of cooperation in monetary markets, a joint assertion from the nations stated.

The dialogue targeted on six themes: banking, funds and crypto belongings, insurance coverage and reinsurance, capital markets, asset administration, and sustainable finance. The subsequent Monetary Markets Dialogue is scheduled to be held in India in 2024.

Representatives of the Reserve Financial institution of India (RBI), the Securities and Change Board of India (SEBI), Worldwide Monetary Companies Centre Authority (IFSCA), Insurance coverage Regulatory and Improvement Authority of India (IRDAI), the Financial institution of England, and the Monetary Conduct Authority participated within the assembly.

Following the government-to-government dialogue, non-public sector companions had been invited to the dialogue, led by the co-chairs of the India-UK Monetary Partnership (IUKFP), Invoice Winters and Uday Kotak, the assertion stated.

Offiials mentioned banking developments and rising vulnerabilities and dangers within the sector. Scope for augmenting data on Central Banking Digital Forex (CBDC) via mutual studying was explored. Contributors mentioned worldwide developments concerning cryptoassets, and the significance of strong international approaches, and progress in delivering the G20 roadmap for enhancing cross-border funds, the assertion stated.

Contributors recognized rising areas for collaboration together with data sharing on regulatory frameworks for pension funds (PFs) in respective nations, potential funding alternatives by PFs and the event of ecosystems together with technology-based options for social inventory change. Either side mentioned the likelihood for additional technical dialogue on efficient regulation of ESG ranking suppliers. 


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Up to date: 19 Apr 2023, 11:59 PM IST