BRICS nations are discussing potential links between their fast payment systems and central bank digital currencies, Reserve Bank of India Governor Sanjay Malhotra said Tuesday.
Malhotra said cross-border payments are a key area of interest for BRICS, with efforts focused on reducing transaction costs and improving international payments.
“Various options are on the table,” Malhotra said, adding that linking central bank digital currencies and fast payment systems remains at the discussion stage.
The Reserve Bank of India had earlier recommended that a proposal to connect central bank digital currencies be included on the agenda for the 2026 BRICS summit, which India is hosting.
India will also continue efforts to internationalize the rupee and encourage the use of local currencies for cross-border trade and payments, Malhotra said.
The RBI governor also urged Indian banks to embrace artificial intelligence while establishing strong governance systems to manage potential cyber, operational and regulatory risks.
