India and the UK held the second meeting of the India-UK Financial Markets Dialogue in London on Wednesday. The dialogue was led by senior officials from the Indian Ministry of Finance and HM Treasury, Reserve Bank of India, Sebi, International Financial Services Centre Authority, IRDAI, the Bank of England, and the Financial Conduct Authority.
It focused on six themes: (1) Banking (2) Payments and Cryptoassets, (3) Insurance and reinsurance, (4) Capital Markets (5) Asset Management, and (6) Sustainable Finance.
Following the government-to-government discussion, private sector partners were invited to the discussion, led by the co-chairs of the India-UK Financial Partnership (IUKFP), Bill Winters and Uday Kotak.
Matters relating to the insurance sector, including UK updates on Solvency II reforms and a consultation on the introduction of an Insurer Regulation Regime (IRR) were also discussed.
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The discussions also included the possibilities of augmenting knowledge on Central Banking Digital Currency (CBDC) and crypto assets and harped on the importance of robust global approaches, and progress in delivering the G20 Roadmap for Enhancing Cross-border Payments.
The Dialogue also saw discussions on possibility of collaboration on knowledge exchange on regulatory frameworks for pension funds (PFs) and potential investment opportunities by PFs and the development of ecosystems including technology-based solutions for Social Stock Exchange.
(Edited by : Pradeep John)
