BRICS leaders are calling for faster and cheaper cross-border payments among member nations. They also support greater interoperability between national payment and messaging systems. The group encourages the BRICS Payment Task Force to continue its work on these initiatives. Iranian President Pezeshkian advocated for reduced dependence on dominant currencies. Measures were outlined to strengthen intra-BRICS trade and investment cooperation.

India is championing the integration of the Unified Payments Interface (UPI) for cross-border digital transactions within BRICS countries. This forward-thinking initiative is…

Russia will discuss digital currency trade settlements with BRICS+ partners this week. President Vladimir Putin will attend the BRICS+ summit in New Delhi. He will promote…

This article is authored by Kanav Sharma, public policy researcher and Janvi Singhi, independent researcher.

Experts urge BRICS nations to enhance banking links and local currency trade for improved economic cooperation and reduced transaction costs.

BRICS finance ministers and central bank governors are exploring faster and cheaper cross-border payment systems, including greater use of local currencies for trade and…

India and Russia are exploring digital currency payments for bilateral trade, potentially opening a faster route for cross-border settlements as BRICS seeks alternatives to…