India and BRICS: Revolution in payments with digital currency!

India and BRICS: Revolution in payments with digital currency!

Wow, this is the latest highlight in the money world! India, a proud member of the BRICS, is increasing its cross-border CBDC payments and bringing a number of countries on board. The Philippines, Sri Lanka and even the United Arab Emirates (UAE) are in the mix, as confirmed by Central Bank of India Deputy Governor T Rabi Sankar at a conference in beautiful Cebu, Philippines. No wonder the payments world is rubbing its eyes - India is giving the digital ruble (er, rupee) a big push and working closely with ASEAN countries to connect the platform. More details on this topic can be found in a detailed report on watcher.guru.

Let’s not forget that India is already rocking digital payments via CBDC in Bhutan and Nepal! This pioneer in the CBDC testing pilot program is now eagerly studying how the new currency will impact the economy, banking and monetary policy. But hurry with time: Sankar emphasizes that India is not rushing. Well, everything takes time and when India is ready, the countdown to the digital currency revolution will begin. An exciting era is dawning, because while the popular BRICS countries such as Russia and China are also involved in the CBDC, the USA and other Western nations are lagging behind. No wonder the monetary world is upside down! A deeper analysis of this phenomenon provides the article from watcher.guru.