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India's Central Bank Proposes a Plan to Create CBDC Link Among BRICS Nations
The Reserve Bank of India seeks to ease cross-border payments among BRICS by linking central bank digital currencies, aiming to reduce U.S. dollar reliance amid geopolitical tensions.
- Later this year, the Reserve Bank of India proposed linking BRICS countries' central bank digital currencies to ease cross-border payments and recommended including it on the 2026 summit agenda.
- Amid revived U.S. trade-war rhetoric, the Reserve Bank of India proposed linking BRICS CBDCs, building on the 2025 Rio declaration for interoperability and efficiency.
- Technical discussions focus on interoperable technology, governance rules and bilateral foreign exchange swap arrangements between central banks with weekly or monthly settlements, but hesitation to adopt foreign platforms could delay progress.
- If approved, the proposal would be put forward for the first time and could draw U.S. criticism, despite all five main BRICS members running pilot projects for digital currencies.
- Longer term, past hurdles suggest challenges for a unified scheme, as a floated common BRICS currency failed and rising stablecoin adoption contrasts with India's push for the e-rupee, India's digital currency, amid closer ties with Russia and China.
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RBI proposes linking BRICS digital currencies for easier cross-border payments: Report
If accepted, it would mark the first formal attempt to link the central bank digital currencies (CBDCs) of BRICS members, a move that could reduce dependence on the US dollar at a time of heightened geopolitical tensions.
·India
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Digital Bridges, Dollar Shadows: BRICS Explores a New Payments Order
India’s central bank has quietly floated a proposal that could carry far-reaching geopolitical consequences: linking the official digital currencies of BRICS countries to facilitate cross-border trade and tourism payments. According to sources, the Reserve Bank of India (RBI) has recommended that the idea be placed on the agenda of the 2026 BRICS summit, which India […] The post Digital Bridges, Dollar Shadows: BRICS Explores a New Payments Orde…
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Total News Sources31
Leaning Left1Leaning Right4Center2Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
14%
C 29%
R 57%
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