Kochi: In a move to make cross-border financial settlements easier, BRICS countries getting closer to find a solution to the issue respecting national priorities.The Finance Ministers and Central Bank governors have said in a statement that easier payments will promote trade settlements and investments using BRICS local currencies.BRICS called for continued work on cross-border payment mechanisms to make payments faster, cheaper, more accessible, efficient, transparent and safe. The push for local-currency settlements comes as BRICS members seek to strengthen financial cooperation, media reports said.They underscored the need for having further technical discussions on settlement and depositary infrastructure.
Easier payments gets full support in BRICS summit
