BRICS Nations Discuss Integration of Payment Systems and Digital Currencies
2 sources across 2 countries · Brazil · United Kingdom
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- CNN Brasil
- Reuters
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BRICS members are discussing the potential integration of their fast payment systems and central bank digital currencies (CBDCs), according to Sanjay Malhotra, the president of the central bank of India. Speaking at an event in Mumbai on Tuesday, Malhotra stated that cross border payments are an area of interest for the group due to the potential to reduce costs. He noted that several options are currently under debate, including the use of CBDCs and the linking of rapid payment systems.
Earlier this year, the central bank of India recommended to the government that a proposal to connect CBDCs be included in the agenda for the 2026 BRICS summit, which India is scheduled to host. Additionally, Malhotra mentioned that the Indian central bank will continue efforts to internationalize the rupee and promote the use of local currencies for cross border trade and payments.
How each side framed it
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- Outlets of this lean presented the information as a straightforward report on financial discussions and policy recommendations.
Sources
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