India’s central bank proposes linking BRICS digital currencies for trade: Reuters
India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report.
India’s central bank, the Reserve Bank of India (RBI), has reportedly proposed an initiative linking BRICS central bank digital currencies (CBDCs) to facilitate cross-border trade and tourism payments.
A Reuters report citing two anonymous sources claimed that the recommendation would place the idea of CBDC interoperability on the agenda for the 2026 BRICS summit, which India is scheduled to host.
Reuters reported that the proposal, if accepted by the Indian government and BRICS partners, would be the first formal consideration of CBDCs within the bloc, which includes Brazil, Russia, India, China and South Africa.