India’s UPI Experience Features in BRICS Cross-Border Payment Discussions

Source: Times Now | Original Published At: 2026-09-07 14:20:18 UTC

Key Points

• The article reports that India is preparing to host the 18th BRICS Summit in New Delhi on September 12–13, with cross-border payments among the expected discussion areas.
• BRICS members are exploring links between domestic fast-payment systems and central bank digital currencies to improve cross-border interoperability.
• India is presenting its UPI experience as a model for faster, lower-cost payment connectivity and wider use of the rupee in international trade.
• RBI Governor Sanjay Malhotra said in August that BRICS cross-border payment discussions offer scope to reduce costs, with several technical options still under consideration.
• India has stated that it is not pursuing a policy to replace the US dollar; the article distinguishes national-currency settlement from a common BRICS currency.
• The article cites Russia as saying that 96% of bilateral trade with India can now use rupees and roubles, while Sberbank India head Ivan Nosov said around 90% of transactions finish within 10 minutes.