India’s Bold BRICS CBDC Move !!
Unlocking dollar-free trade via linked digital rupees.
India’s Bold BRICS CBDC Move. India’s Reserve Bank (RBI) has proposed linking the official digital currencies of BRICS nations to streamline cross-border trade and tourism payments, potentially reducing dependence on the US dollar. This initiative, set to be discussed at the 2026 BRICS summit hosted by India, reflects growing efforts among emerging economies to enhance financial autonomy amid geopolitical tensions.
“RBI’s Bold Link: BRICS Coins Crush Dollar Chains!”
Proposal Details
The RBI advised the Indian government to include CBDC interoperability on the summit’s agenda, marking a potential first for BRICS digital currency linkage. Sources indicate this would connect central bank digital currencies (CBDCs) from Brazil, Russia, India, China, and South Africa, simplifying transactions without fully launching in all members yet—all are in pilot stages. India’s e-rupee, launched in December 2022, already has 7 million retail users, while China pushes digital yuan internationalization.
BY- Dr. Namrata Mishra Tiwari, Chief Editor http://indiainput.com
Linked BRICS CBDCs would enable direct, efficient cross-border payments by interconnecting central bank digital currencies (CBDCs) of member nations—India’s e-rupee, China’s digital yuan, and pilots from Brazil, Russia, and South Africa—bypassing traditional systems like SWIFT and the US dollar. This interoperability leverages shared standards, blockchain or distributed ledger technology (DLT), and messaging systems for real-time settlements in local currencies.
Strategic Context
BRICS builds on the 2025 Rio summit declaration for payment system interoperability, amid US warnings against dollar circumvention. President Donald Trump has called BRICS “anti-American,” threatening tariffs, heightening sensitivities. India emphasizes faster payments and rupee globalization, not explicit de-dollarization, via tools like Special Rupee Vostro Accounts with over 30 countries.
BRICS-Specific Initiatives
Under the BRICS Cross-Border Payments Initiative (BCBPI), platforms like BRICS Bridge and BRICS Pay act as gateways, connecting national infrastructures for business-to-business (B2B) and consumer-to-business (C2B) flows. BRICS Pay routes transactions efficiently, integrating card networks for tourists, while emphasizing national currency use to cut dollar reliance. RBI’s proposal pushes this for the 2026 India-hosted summit, building on e-rupee pilots with 7 million users
Implications for Global Finance
Successful linkage could accelerate trade settlements, boost tourism, and diversify reserves, challenging dollar dominance in a multipolar world. For India, as digital marketer hub in Nagpur and economy watcher, this aligns with rupee promotion and SEO-friendly content on policy shifts. Challenges remain: full CBDC rollout, US pushback, and ensuring interoperability without new hegemonies.
Benefits and Challenges
This setup reduces settlement times from days to seconds, lowers costs by 50-80%, and enhances resilience against sanctions. Challenges include aligning standards, addressing trade imbalances, and US geopolitical pushback, requiring legislative tweaks across BRICS. For India, it boosts rupee internationalization in trade with partners.
SOURCE : http://bricscouncil.ru/en
http://bricsbrasil.com.br/en/cbdcs-from-brics
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