Also Read: On Central Bank Digital Currency and BRICSWhat is the proposal by the RBI? What are central bank digital currencies? In India, for example, the RBI has been issuing the e-rupee on a limited scale. U.S. President Donald Trump has already in the past threatened additional tariffs on BRICS countries if they go ahead with developing alternatives to the U.S. dollar. India will have to weigh the costs of additional tariffs against the benefits of using CBDCs for cross-border payments.

Source: The Hindu January 25, 2026 10:48 UTC