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BRICS Nations Discuss Linking Payment Systems and CBDCs, RBI Chief Says

The RBI wants to cut cross-border payment costs and keep promoting the rupee as BRICS members weigh CBDC and fast-payment links.

  • On Tuesday, India Governor Sanjay Malhotra announced that BRICS nations are currently discussing potential linkages between their respective fast payment systems and central bank digital currencies to reduce transaction costs.
  • The Reserve Bank recommended including the digital currency connection proposal on the 2026 summit agenda earlier this year as the host nation prepares for the annual gathering.
  • Regarding the strategy, Malhotra stated, "Various options are on the table," adding that the central bank continues efforts to internationalize the rupee for trade.
  • Turning to technology, Malhotra urged lenders to inventory all AI models and establish board-approved policies, stating, "...Indian banks cannot afford to sit on the sidelines and watch."
  • Balancing progress with security, Malhotra emphasized that "innovation and safety are not opposing goals; they are in fact complementary.
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latinapress Nachrichten broke the news on Monday, August 10, 2026.
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