India pushes digital rupee through welfare pilots as BRICS CBDC plan takes shape

Source: CoinDesk | Original Published At: 2026-04-24 09:25:07 UTC

Key Points

• India is conducting approximately 10 pilot programs routing welfare payments through its e-rupee to boost adoption and reduce subsidy leakage.
• The Reserve Bank of India aims to present a proposal for linking CBDCs across BRICS economies at the bloc's 2026 summit.
• The initiative seeks to streamline cross-border trade among Brazil, Russia, India, China, and South Africa while reducing reliance on the U.S. dollar.
• Current e-rupee usage remains low compared to India's Unified Payments Interface, with cumulative transactions totaling $3.6 billion since late 2022.
• Geopolitical risks exist, including potential U.S. tariffs on BRICS countries pursuing alternatives to the dollar.
• Pilots include programmable subsidies for farmers in Maharashtra and targeted food transfers for households in Gujarat.