India’s Modi: There is need to expand mandate of multilateral development banks

There seems to be a major requirement to enlarge the mandate of many sided development banks and create global standards to regulate cryptocurrencies, Indian Prime Minister Narendra Modi conveyed G-20 governers during a summit of the bloc on Sunday. The group of 20 prominent economies has promised in an announcement at the New Delhi meeting to polish and transform the banks and has said yes for the appeal for more stringent regulation of cryptocurrencies. “We should be enlarging the mandate of many sided development banks. Our decisions should be immediate and impactful in this direction,” Mr Modi conveyed during a G-20 governers’ session.