The final BRICS Finance Ministers’ and Central Bank Governors’ meeting began in Mumbai on September 9 and will continue through September 10, ahead of the BRICS Leaders’ Summit scheduled to be held in New Delhi.
The meeting is part of India’s 2026 BRICS Chairship and is being held under the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” Finance Ministers and central bank governors from BRICS member countries are expected to discuss key areas of financial cooperation and finalise proposals for consideration at the Leaders’ Summit.
Editorial Insight
Key Highlights
Important points readers should notice.
Issue/Event: Final BRICS Finance Ministers and Central Bank Governors meeting
Location: Mumbai, Maharashtra
Authority/Organisation: BRICS / Government of India
Action Taken: Finance chiefs and central bank governors convened to finalise Finance Track proposals
Impact: Outcomes could shape BRICS cooperation on payments, development finance and financial resilience
The Finance Track is particularly significant this year as BRICS countries look to strengthen cooperation on cross-border payments, financial stability, development financing and the use of national currencies in international transactions.
One of the key areas under discussion is greater use of national currencies for cross-border payments. The proposal is aimed at strengthening financial resilience among member countries and reducing exposure to external financial shocks.
The role of the New Development Bank (NDB) is another major focus. BRICS members are looking at ways to strengthen the institution's ability to mobilise private capital and finance development projects across emerging economies.
Editorial Analysis
Why This Matters
The Finance Track could influence how BRICS economies cooperate on cross-border payments, development financing and financial resilience at a time of heightened global economic uncertainty.
The Mumbai meeting comes shortly before the 18th BRICS Summit, which India will host in New Delhi on September 12 and 13. The summit is expected to bring together leaders of BRICS member countries to discuss economic cooperation, global governance and issues affecting the Global South.
Union Finance Minister Nirmala Sitharaman is participating in the Finance Track discussions. Her participation comes as India seeks to shape the economic agenda of BRICS during its chairship in 2026.
The Finance Ministers and central bank governors had previously held discussions as part of the BRICS Finance Track, with the latest meeting serving as an important step toward finalising outcomes ahead of the Leaders’ Summit.
