India, China, South Africa, Russia and Brazil discuss a major financial shift that could reshape global payments

Members of the BRICS group, an intergovernmental organization of major emerging economies, which includes nations like Brazil, Russia, India, China, and South Africa, are currently in discussions to link their respective fast payment systems and Central Bank Digital Currencies (CBDCs).

These talks are a key part of the preparations for the 2026 BRICS summit, which will be hosted by India.

By exploring these digital linkages, the member nations hope to create a more integrated financial network that simplifies how money moves across their borders.

Reserve Bank of India (RBI) Governor, Sanjay Malhotra shared these updates during a recent event in Mumbai.

He explained that while several options are currently on the table, the project is still in the discussion stage.