BRICS summit spotlights de‑dollarisation aims even as NDB loan book stays USD‑heavy

Meeting in New Delhi on 12–13 September, BRICS leaders are promoting greater use of national currencies and payment connectivity rather than a common currency. NDB disclosures show about 59.5% of its active loan portfolio is USD‑denominated (only 1% in INR) at end‑2025, with roughly 25% in local currencies currently and a 30% target for 2026.