India’s central bank proposes linking BRICS’ digital currencies for cross-border transactions

Source: MarketScreener | Original Published At: 2026-01-19 10:59:03 UTC

Key Points

• India's RBI proposed connecting BRICS members' CBDCs to facilitate cross-border trade and tourism payments.
• The initiative would be considered at the 2026 BRICS summit hosted by India, marking the first formal proposal for BRICS digital currency linkage.
• Technical challenges include achieving interoperable technology, governance frameworks, and mechanisms for settling trade imbalances.
• All five founding BRICS members are conducting CBDC pilot projects, with India's e-rupee having 7 million retail users since 2022.
• The proposal builds on the 2025 BRICS summit declaration promoting payment system interoperability.