India’s Malhotra Says BRICS Eyeing Faster Cross-Border Payments

India’s Malhotra Says BRICS Eyeing Faster Cross-Border Payments India is working to make cross-border payments easier and cheaper while promoting local-currency settlement with its trading partners, Reserve Bank of India Governor Sanjay Malhotra said. BRICS nations, of which India holds the presidency this year, are discussing ways to make cross-border payments faster and cheaper. “Various methods, various options are on table,” including central bank digital currencies and linkages between fast-payment systems, “but it is still at discussion stage,” Malhotra said. He was speaking at a banking event in Mumbai on Tuesday.