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The Sovereign Wealth Fund Institute announced on 4 September 2026 that it will convene the inaugural iBRICS Summit in New Delhi on 12-13 September 2026.
Formally titled 'The Global Sovereign & Private Deal Room', the invitation-only event will be held at The Oberoi, New Delhi, on the sidelines of the 18th BRICS Leaders' Summit.
More than 500 institutional investors, finance ministers and business leaders managing a combined $1 trillion are expected to attend.
A closed-door roundtable of 250 principals on 12 September will discuss non-dollar settlement corridors and a proposed 'Sovereign Capital Compact'.
Sessions will cover linking national fast-payment systems such as India's UPI and Brazil's Pix with central bank digital currencies.
Global platform that tracks sovereign wealth funds and public investment institutions; convener of the iBRICS Summit. It is a private research and data organisation, not an intergovernmental body.
Intergovernmental grouping founded on Brazil, Russia, India, China and South Africa, since expanded to eleven members with Egypt, Ethiopia, Iran, the UAE, Indonesia and Saudi Arabia. It has no permanent secretariat; the chair rotates annually. India holds the 2026 chairship, its fourth, assumed on 1 January 2026 under the theme 'Building for Resilience, Innovation, Cooperation and Sustainability'.
Umbrella organisation that built and operates the Unified Payments Interface, India's real-time retail payment system, along with RuPay, IMPS and FASTag.
The BRICS-founded multilateral development bank, the grouping's main institutional achievement in development finance; often paired in exams with the Contingent Reserve Arrangement.
Cross-border trade is usually invoiced and settled in US dollars, so both sides need dollar liquidity. A non-dollar corridor lets two countries settle directly in their own currencies or through linked payment systems, cutting conversion cost and exposure to dollar liquidity.
Simple Analogy: Two friends settling up directly instead of each converting to a third currency first.
15th summit Johannesburg 2023 (South Africa), 16th Kazan 2024 (Russia), 17th Rio de Janeiro 2025 (Brazil), 18th New Delhi 2026 (India). India has now chaired four times - 2012, 2016, 2021 and 2026.
India has been linking UPI with foreign fast-payment systems; pairing it with Brazil's Pix and with CBDCs is the logical next step and a recurring banking-exam theme.
One of the four deal themes at the summit, alongside infrastructure, technology and energy transition - and a standing item on India's economic security agenda.
GS Paper II > International groupings involving India; GS Paper III > Economy
General Awareness > Payment systems, CBDC, multilateral institutions
With reference to a grouping of countries known as BRICS, consider the following statements: 1. The First Summit of BRICS was held in Rio de Janeiro in 2009. 2. South Africa was the last to join the BRICS grouping. Which of the statements given above is/are correct?
Answer: 2 only
Consider the following statements with regard to BRICS: I. 16th Summit... Russia... II. Indonesia has become a full member... III. Theme... Which of the statements given above is/are correct?
Answer: I and III
Funds managed by state-owned investment vehicles - sovereign wealth funds, public pension funds and similar public capital pools.
Brazil's instant payment system, launched by the Central Bank of Brazil; the counterpart to India's UPI.
Central Bank Digital Currency - a digital form of sovereign money issued directly by a central bank.