RBI Proposes Linking BRICS Digital Currencies for Trade and Tourism Payments

Source: Business Today | Original Published At: 2026-01-19 07:04:27 UTC

Key Points

• RBI recommends linking BRICS members' central bank digital currencies (CBDCs) to streamline cross-border trade and tourism payments
• Proposal aims to reduce reliance on US dollar while improving transaction efficiency through interoperable digital currencies
• India plans to formally introduce the agenda item at the 2026 BRICS summit it will host
• All five original BRICS members are conducting CBDC pilot projects, though no retail versions have been fully launched yet
• Initiative builds on 2025 BRICS summit declaration calling for payment system interoperability