Consider the following statements regarding the BRICS grouping and its financial initiatives:1.The original members of BRICS were Brazil, Russia, India, China, and South Africa.2.The iBRICS Summit focuses on linking national fast-payment systems, sovereign wealth deployment, and Central Bank Digital Currency (CBDC) interoperability.Which of the statements given above is/are correct?

Statement 1 is incorrect because South Africa was not an original member; BRIC originally consisted of Brazil, Russia, India, and China before South Africa joined later, followed by other nations like Egypt, Ethiopia, Iran, UAE, and Saudi Arabia. Statement 2 is correct as the iBRICS Summit focuses on linking national fast-payment systems, sovereign wealth deployment, and CBDC interoperability.