RBI Proposes Linking BRICS Digital Currencies for Cross-Border Transactions

Source: Times of India | Original Published At: 2026-01-19 08:45:00 UTC

Key Points

• RBI proposes linking BRICS' CBDCs to facilitate cross-border trade and tourism payments, reducing reliance on the US dollar.
• Proposal builds on 2025 BRICS summit declaration calling for interoperable payment systems.
• India plans to introduce the proposal at the 2026 BRICS summit it will host.
• Challenges include technological platform reluctance and need for regulatory/technical consensus.
• All BRICS members are conducting CBDC pilot projects but none have fully launched digital currencies yet.