RBI Proposes Linking BRICS Digital Currencies

Source: The Hindu | Original Published At: 2026-01-19 13:53:40 UTC

Key Points

• RBI proposed linking BRICS central bank digital currencies (CBDCs) for cross-border trade and tourism payments.
• The initiative aims to reduce reliance on the U.S. dollar amid rising geopolitical tensions.
• Proposal targets inclusion in the 2026 BRICS summit agenda, requiring technological interoperability and governance consensus.
• Pilot projects for digital currencies are ongoing among all five original BRICS members.
• Previous BRICS attempts at local currency trade faced challenges with imbalanced settlements.