Context
• RBI has suggested that linking digital currencies of BRICS countries be included in the 2026 BRICS Summit agenda.
• Aim: Faster and cheaper cross-border payments through digital currencies.
Central Bank Digital Currency (CBDC)
• Digital form of sovereign currency issued by a central bank.
• Legal tender and direct liability of the central bank.
• Can be used for payments and settlements like cash.
India’s e-Rupee
• India’s CBDC, issued by the RBI.
• Digital version of the Indian Rupee (₹).
• Launched in 2022; functions as digital cash.
Current Status
• Retail e-Rupee has attracted millions of users since launch.
• Still in pilot mode, with gradual expansion.
