Information of the existence of such a word first emerged forward of the Finance Ministers and Central Financial institution Governors (FMCBG) assembly in India final month by means of Ajay Seth, a senior official of the Indian Finance Ministry. Later, on the post-event media briefing, with out revealing particulars of the word, Seth stated “(India) contributed its personal word, it is the presidency word within the sense that we originated that concept (and) a number of different international locations contributed.”