The Reserve Bank of India proposes a unified payment system to facilitate trade and tourism among BRICS nations using local currencies, reducing reliance on dollar-dominated systems like SWIFT.
India leads initiative for interconnected CBDCs among BRICS nations, aiming to establish alternative payment infrastructure by 2026 summit.
India proposes linking central bank digital currencies (CBDCs) to reduce dollar dependency and establish alternative payment infrastructure for trade and tourism.
Countries explore alternatives to Western financial infrastructure through digital currency integration
According to Berliner Zeitung, the BRICS summit in 2026 may launch the Brics Pay system, allowing settlements in national currencies without using the dollar.
Analysis of how US tariff policies under Trump have accelerated global realignment toward BRICS as a counterbalance to American dominance.
Countries in the BRICS bloc are advancing plans for a payment system independent of Western financial infrastructure, with India proposing integration of central bank digital currencies.
Analysis of Indonesia’s strategic challenges balancing BRICS membership with participation in US-led Gaza peace initiatives.
RBI advocates for BRICS-wide adoption of CBDCs to enhance cross-border payments, balancing benefits like transparency against risks like US tariff threats.
