Include proposal to link digital currencies on the BRICS agenda, says RBI
ECONOMY – CRYPTOCURRENCY
20 JANUARY 2026
- The Reserve Bank of India (RBI) has recommended to the Centre that a proposal connecting the central bank digital currencies (CBDCs) of BRICS countries be included on the agenda for the 2026 summit of the grouping, two sources have said.
- The proposal seeks to make cross-border payments easier, in a move that could reduce reliance on the U.S. dollar as geopolitical tensions rise.
- The RBI’s recommendation builds on a 2025 declaration at the BRICS summit in Brazil which pushed for interoperability between members’ payment systems to make cross-border transactions more efficient.
- The RBI has publicly expressed interest in linking India’s digital rupee with other nations’ CBDCs to expedite cross-border transactions and bolster its currency’s global usage.
- India will host the next BRICS summit later in 2026.
- U.S. President Donald Trump has previously said the BRICS alliance is “anti-American” and he threatened to impose tariffs on its members.
- While none of the BRICS members have fully launched their digital currencies, all five main members have been running pilot projects.
- India’s digital currency has attracted a total of 7 million retail users since its launch in December 2022, while China has pledged to boost the international use of the digital yuan.
