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India’s central bank has urged the government to table a proposal at the 2026 BRICS Summit, advocating for linked digital currencies among member nations. The move aims to streamline cross-border payments, reduce reliance on the US dollar, and strengthen financial cooperation within the bloc, signaling a major monetary shift.
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Key Highlights
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Strategic Proposal: The Reserve Bank of India (RBI) has asked the government to include a digital currency linkage framework in the 2026 BRICS Summit agenda.
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Cross-Border Payments: The initiative envisions seamless transactions between BRICS nations using central bank digital currencies (CBDCs), cutting costs and enhancing transparency.
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Global Context: With over 130 countries exploring CBDCs, India’s leadership positions BRICS as a potential trailblazer in multipolar monetary systems.
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Economic Impact: Linking CBDCs could reduce dependence on the US dollar, strengthen intra-BRICS trade, and accelerate financial innovation.
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India’s Edge: India has already piloted its digital rupee, backed by blockchain infrastructure, giving it a competitive advantage in shaping the bloc’s digital finance roadmap.
This proposal reflects BRICS’ broader ambition to launch a common currency by 2026, challenging traditional financial dominance and reshaping global trade flows.
Sources: Tremplin.io, WorldCoinIndexWorldCoinIndex, Voice Lapaas
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