RBI Proposes Linking BRICS Digital Currencies to Facilitate Cross-Border Payments

India's central bank has proposed linking the official digital currencies of BRICS nations—Brazil, Russia, India, China, and South Africa—to facilitate cross-border trade and tourism payments. This initiative, recommended for inclusion on the 2026 BRICS summit agenda hosted by India, aims to reduce reliance on the U.S. dollar amid rising geopolitical tensions. The proposal builds on prior calls for payment system interoperability among BRICS members. U.S. officials have expressed concerns about efforts to bypass the dollar. Key stakeholders have not publicly commented on the proposal.