Easier payments gets full support in BRICS summit

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.