The Reserve Bank of India (RBI) has proposed linking the digital currencies of Brics nations to streamline cross-border payments, aiming to make transactions for trade and tourism faster and more efficient. According to a Reuters report, the initiative would connect central bank digital currencies (CBDCs) of member countries, reducing reliance on intermediary banks and lowering transaction costs.
The proposal is expected to be taken up for discussion at the 2026 Brics summit, which India is set to host later this year. If adopted, the framework could enhance financial integration among Brics members — Brazil, Russia, India, China, and South Africa — while supporting the bloc’s broader goal of strengthening alternative payment systems. The move also aligns with India’s push to position its digital rupee as a key tool in cross-border settlements.
