India’s e-commerce giant Paytm has become the member of the Advertising Standards Council of India (ASCI) from April, 2017.
ASCI is the self-regulatory and voluntary organization.
The company’s indictment is pivotal as e-commerce companies spend largely on advertising in print, digital and television, violation by the companies is also on rise in the recent years.
Paytm has tied up with Alibaba to begin a new financial services which will provide mutual funds, insurance products to the account holders of its Payment Bank.
3rd Edition of G20 Framework Working Group Meet held in India
The two-day meeting of G20 Framework Working Group was held in Uttar Pradesh’s Varanasi, it is the third meet held under the G20 German Presidency, it was co-hosted by the Reserve Bank of India and the Union Finance Ministry.
The meet was inaugurated by Shaktikanta Das, Secretary of economic affairs and the programme was led by the special secretary of Finance Ministry.
Highlights of the Meet
The two-day meet had conducted deliberations on the global economic situation, how to counter the challenges and formulate policies.
The inclusive growth agenda will enable countries to design growth policies based on countries economic model and local conditions.
The meet was attended by the high-profile bureaucrats of 100 financial and economic policy makers from around 19 countries of G20.
The top officials from UNCTAD, OECD, Financial Stability Board European Commission, World Bank, the International Monetary Fund (IMF),Asian Development Bank ILO, European Central Bank have participated in the meet.
The first two meetings of Framework Working Group were held in Berlin in the month of December in 2016 and second at Riyadh in February 2017.
The fourth meet would be held in the month of July this year in Argentina, exactly before the the G20 leaders’ summit in Hamburg, Germany.
India hosted the meet for fourth time, since the initiative began in the year 2009.
India hosted the G20 Framework Working Group (FWG) in in Kerala under Turkish Presidency (2015), in Goa under the Australian Presidency (2014) and Neemrana under the Mexican Presidency (2012).
The Group of Twenty (G20)
The Group of Twenty (G20) is the premier forum for international economic cooperation. The Group meets on discussing global economic issues and conducts deliberations on other important development challenges.
The Group comprises 85% of global GDP, 65% of world’s population and 80% of international trade.
The Group was started after the collapse of Tiger economies (South Asian countries), the first meet was attended by the Central Bank Governors and Finance Ministers.
The First G20 leaders’ Summit was held in Washington DC, the United States.
The Group played a pivotal role in addressing the global financial crisis. The members of the G20 Group are Australia,Argentina,Brazil,China,Canada,Germany,India,Indonesia,Japan,Italy,South Korea,Russia,South Africa,Mexico,Saudi Arabia,Turkey,France, US, EU and UK.
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