Quick Summary
India and the United Kingdom (UK) held the inaugural meeting of the India-UK Financial Markets Dialogue (the Dialogue) virtually late evening yesterday. The Dialogue was established at the 10thEconomic and Financial Dialogue (EFD) in October 2020 to deepen bilateral ties in the financial sector.
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FAQ :
The dialogue was established to deepen bilateral ties between India and the UK in the financial sector.
The dialogue was led by senior officials from India's Ministry of Finance and the UK's Her Majesty's Treasury.
Discussions focused on GIFT City, banking and payments, insurance, and capital markets.
Participating agencies included the Reserve Bank of India, the Securities and Exchange Board of India, International Financial Services Centre Authority, Insurance Regulatory and Development Authority of India, the Bank of England, and the Financial Conduct Authority.
Private sector partners presented on the Indian corporate bond market and provided recommendations for developing GIFT City as a global services hub.
Both sides agreed there is significant scope for strengthening financial services cooperation and will continue to engage in the coming months.
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