India to Propose BRICS Nations Link Central Bank Digital Currencies for Cross-Border Payments

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India plans to pitch a framework at BRICS for connecting central bank digital currencies (CBDCs) across member nations to facilitate cross-border transactions. The proposal is backed by the Reserve Bank of India and aims to streamline international payments within the bloc. By linking CBDCs, the initiative seeks to reduce dependence on traditional banking intermediaries. This move is also expected to lower transaction costs for cross-border payments among BRICS countries.

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