India tends to use central bank digital currency in cross-border payments among BRICS countries and does not support a unified payment network

India will promote the BRICS countries to expand the use of central bank digital currencies for cross-border payments, but does not support the establishment of a unified payment network that challenges the US dollar. Modi tends to use central bank digital currencies to settle bilateral trade between member countries, and it is unlikely to reach an agreement on a single BRICS payment settlement system at this weekend's leaders' summit in New Delhi.