RBI proposes linking Brics digital currencies at 2026 summit to ease cross-border payments

The Reserve Bank of India has proposed linking BRICS nations' central bank digital currencies (CBDCs) to simplify cross-border payments, aiming to reduce reliance on the US dollar. If approved at the 2026 BRICS summit, this would be the first formal attempt to interlink BRICS CBDCs, but faces potential scrutiny from the US. A shared framework for technology, governance, and settlement is seen as critical, while disagreements over platform choices could slow progress.