India's Modi: There is need to expand mandate of multilateral development banks
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World Bank President Ajay Banga and the leaders of Brazil, India, South Africa and the US pose for a group photo.
PHOTO: REUTERS
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NEW DELHI - There is a need to expand the mandate of multilateral development banks and develop global standards to regulate cryptocurrencies, Indian Prime Minister Narendra Modi told G-20 leaders during a summit of the bloc on Sunday.
The group of 20 major economies has pledged in a declaration at the New Delhi meeting to strengthen and reform the banks and has accepted a proposal for tighter regulation of cryptocurrencies.
"We need to expand the mandate of multilateral development banks. Our decisions should be immediate and effective in this direction," Mr Modi said during a G-20 leaders' session. REUTERS
