Tag: brics cross border payments

What are the alternatives to SWIFT, and how are they faring? Explained

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What are the alternatives to SWIFT, and how are they faring? Explained

The story so far: The New Delhi Declaration that came out of the recent BRICS Summit in the national capital resolved to increase trade between member-countries and payments in national currencies. Days before the summit, a report by the news agency Reuters quoted sources as saying that at the event, India would push to link…

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Why is BRICS exploring cross-border payments? |Explained

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Why is BRICS exploring cross-border payments? |Explained

The story so far: The 18th BRICS summit in New Delhi to be held in September, with India as the Chair, is expected to push for mechanisms to facilitate cross-border payments between members, including links between digital payment systems and central bank digital currencies (CBDCs), according to a report in The Hindu businessLine. Ahead of the…

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