# RBI explores CBDCs, payment links to cut cross-border costs

2026-08-12T06:20:12+00:00 | Governance | Indian Opinion Desk

Corroboration: 2 independent outlets

India co-chaired the BRICS finance ministers and central bank governors meeting in Jaipur on August 12-13, where RBI Governor Sanjay Malhotra stressed the need for cheaper and faster cross-border payments. Separately, Malhotra said the RBI is exploring central bank digital currencies (CBDCs) and payment system linkages to reduce costs, particularly for retail transactions. The RBI has proposed placing CBDC linkages of BRICS countries on the agenda for the 2026 BRICS summit, which India will chair. The central bank is also signing MoUs to promote local currency trade, with four agreements already signed with the UAE, Mauritius, Maldives and Indonesia. Malhotra asked why cross-border remittances should take days when UPI is instantaneous.

## Coverage

- bfsi.economictimes.indiatimes.com <https://bfsi.economictimes.indiatimes.com/articles/rbi-exploring-new-payment-infrastructure-cbdcs-to-reduce-cost-improve-speed-of-cross-border-payments-governor/133149776>
- timesnownews.com <https://www.timesnownews.com/business-economy/economy/nirmala-sitharaman-and-rbi-governor-sanjay-malhotra-at-brics-meet-what-india-wants-on-finance-fintech-and-payments-article-155610661>

Tags: BRICS, CBDC, cross-border payments, RBI, Sanjay Malhotra, UPI
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