RBI proposes BRICS digital currency linkage to facilitate cross-border payments
Countries
Cooperation areas
Source: The Hindu Business Line | Original Published At: 2026-01-19 05:52:33 UTC
Key Points
- RBI recommends linking BRICS CBDCs for trade and tourism payments at 2026 summit agenda
- Proposal aims to reduce reliance on US dollar amid rising geopolitical tensions
- Includes technical challenges like interoperability, governance, and trade imbalance settlements
- All five original BRICS members conducting CBDC pilot projects despite implementation hurdles
- Builds on 2025 BRICS Rio declaration for payment system interoperability