India's BRICS play may have a payment plan with no hard cash

India is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems and CBDCs to make cross-border transactions faster and cheaper. The story traces Indias opposition to a new BRICS currency, Trumps tariff threats, the RBIs push for CBDC interoperability, and the technical and trade hurdles that could stand in the way.

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