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BRICS Pay links CIPS, UPI, Pix, SPFS for settlements

By Drooid · Sep 11, 2026, 9:43 AM UTC · How we work

Summary

BRICS Bank Approves

The New Development Bank approved $42 billion for more than 130 global projects, many financed in member currencies.
India’s BRICS trade deficit widened to $226 billion in FY2025-26, up from $74.5 billion in FY2021.
BRICS Pay now links China’s CIPS, India’s UPI, Brazil’s Pix and Russia’s SPFS for cross-border settlements.
China’s 2017 ‘BRICS Plus’ model allows non-member developing nations to join as dialogue partners.

Summary

India Hosts BRICS

India deploys 25,000 security staff for 18th BRICS Summit in New Delhi.
President Xi Jinping and President Vladimir Putin attend, Xi’s first India visit since 2019.
Prime Minister Narendra Modi holds talks with President Vladimir Putin, President Xi Jinping and Iranian President Masoud Pezeshkian.
Kremlin spokesman Dmitry Peskov says 90 % of Russia’s BRICS payments use national currencies.
Oil prices rise above $100 a barrel, Brent near $110 amid Gulf shipping disruptions.

Summary

India Probes Xiaomi

India’s Serious Fraud Investigation Office recommended probing Xiaomi’s Indian operations for possible foreign-investment law breaches.
Chinese foreign ministry spokesman Guo Jiakun urged India to ensure a fair, transparent, non-discriminatory business climate.
Five Tibetan groups issued an open letter asking Xi to launch new Sino-Tibetan dialogue during his Delhi visit.
Beijing denied Indian army access to key Arunachal Pradesh patrolling points in August, underscoring ongoing border tensions.

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BRICS Bank Approves

The New Development Bank approved $42 billion for more than 130 global projects, many financed in member currencies.
India’s BRICS trade deficit widened to $226 billion in FY2025-26, up from $74.5 billion in FY2021.
BRICS Pay now links China’s CIPS, India’s UPI, Brazil’s Pix and Russia’s SPFS for cross-border settlements.
China’s 2017 ‘BRICS Plus’ model allows non-member developing nations to join as dialogue partners.

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