The Reserve Bank of India (RBI) is encouraging the Indian government to promote the use of central bank digital currencies (CBDCs) for cross-border payments among BRICS nations, according to recent media reports. The move reflects India’s growing interest in reshaping global payment systems, reducing transaction costs, and limiting over-dependence on…
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RBI Pushes BRICS Digital Currency for Easier Payments
India’s central bank has proposed a landmark initiative to link the digital currencies of BRICS nations, a move that could reshape cross-border trade and tourism payments while gradually reducing reliance on the US dollar. The proposal, recommended by the Reserve Bank of India (RBI), is expected to be placed on…