October 06, 2010, Jaipur
In light of the global financial crisis and its results on developing countries like India, CUTS International is joining with Consumers International (CI), being a member, and other consumer organisations around the world in calling up on the G20 to take urgent action to protect consumers of financial services. In support of the international campaign Mr. Pradeep S. Mehta, Secretary General, CUTS International wrote letters to the Prime Minister Mr. Manmoham Singh and Finance Minister Mr. Pranab Mukherjee to raise the issue and to support the establishment of an experts group on consumers’ financial protection during forthcoming G20 Summit to be held in Seoul (South Koria) on 11-12 November 2010.
The Experts Group should be charged to report to the G20 summit in 2011 with recommendations supporting effective financial consumer protection around the world.
The G-20 is an informal forum that promotes open and constructive discussion between industrial and emerging-market countries since 1999. In addition to heads of governments from the twenty member countries, central bankers and finance ministers, the heads of key international institutions, including the United Nations, the International Monetary Fund, the World Bank and the Financial Stability Board, will participate in the meetings.
Consumer Unity & Trust Society (CUTS International), an Indian origin international advocacy organisation, is pursuing social justice and economic equity, within and across borders, since its inception in 1983.