Finance heads of the world's most powerful economies were split over language on Russia's war in Ukraine with some western powers hardening their position on isolating Moscow while host India looked for more neutral terms to describe the conflict.

IMF's top recommendation was to "safeguard monetary sovereignty and stability by strengthening monetary policy frameworks and do not grant crypto assets official currency or legal tender status."

Nirmala Sitharaman also sought views on how multilateral development banks, like the IMF and World Bank, can be strengthened to address shared global challenges of the 21st century.