technology

India's Malhotra Highlights BRICS Focus on Expediting Cross-Border Payments

11 Ağustos 2026Bllomberg

India is taking steps to simplify and reduce the costs associated with cross-border payments, according to Reserve Bank of India Governor Sanjay Malhotra. The country is also focusing on promoting local-currency settlements with its trading partners.
This initiative aims to enhance the efficiency of international transactions and strengthen economic ties. Such measures could potentially position India as a key player in global finance.
BRICS, which includes Brazil, Russia, India, China, and South Africa, has been exploring ways to enhance financial cooperation among its members. The emphasis on local-currency settlements is part of a larger trend to reduce dependence on traditional Western financial systems and promote alternative payment networks.
The push for easier cross-border payments and local-currency settlements reflects India's strategic intent to enhance its economic influence and reduce reliance on major currencies like the US dollar. By facilitating smoother transactions, India could attract more foreign trade and investment, ultimately boosting it…

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This article is for informational purposes only and does not constitute financial advice.

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