RBI Proposes BRICS CBDC Interconnection for 2026 Summit

2026-01-19 19:45

The Reserve Bank of India (RBI) has proposed the inclusion of a central bank digital currency (CBDC) interconnection plan on the agenda for the 2026 BRICS summit. The initiative aims to link the CBDCs of BRICS nations to facilitate cross-border trade and tourism, while reducing reliance on the US dollar. The RBI has urged the Indian government to prioritize this proposal for the summit, which India will host later this year. This marks the first formal effort by BRICS countries to establish a CBDC interconnection system, potentially enhancing economic cooperation among member states.

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