India explores CBDC links with Thailand, Malaysia and Vietnam for cross-border payments

Source: Moneycontrol | Original Published At: 2026-09-14 05:39:13 UTC

Key Points

• India is exploring linking its central bank digital currency with those of BRICS partner countries, including Thailand, Malaysia and Vietnam, to facilitate faster and more efficient cross-border payments.
• The discussions are part of India's broader effort to expand cross-border payment interoperability within the BRICS ecosystem.
• The New Delhi Declaration from the 18th BRICS summit supported work on payment-system interoperability and promoting trade and investment in local currencies.
• India has previously proposed linking CBDCs across BRICS countries to make international transactions faster, more efficient and cost-effective.
• The Reserve Bank of India is exploring cross-border digital rupee use cases with two to three countries while the system remains in the pilot phase.
• India is also working to expand options for rupee-based trade settlement, including local-currency settlements, bilateral currency arrangements and the use of the rupee.