India & Indonesia working on payment mechanism, trading in local currencies

India and Indonesia are working on a real-time payment mechanism and trading in local currencies, the two countries announced on Sunday. “Both countries would discuss the possibility of cooperation in digital technology, payments systems under central banks and using local currency," Indonesian finance minister Sri Mulyani Indrawati said here on Sunday.

The two countries launched an Economic and Financial Dialogue that will focus on enhancing bilateral trade and investment, financial services, and infrastructure development, among others.