India may pitch BRICS a payment plan beyond cash
As BRICS leaders convene in New Delhi on September 12 and 13, India is expected to advocate for digital payments and the adoption of central bank digital currencies (CBDCs) among the grouping's members, rather than advocating for a common BRICS currency. According to a report in The Economic Times, India is leaning towards seamless cross-border digital payments and greater CBDC adoption at the summit.
While India opposes the idea of a shared BRICS currency, it has been actively exploring the possibility of connecting CBDCs or fast-payment systems to facilitate smoother cross-border transactions.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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