BRICS: India Provides Update on CBDC Currency
BRICS member India is among the few countries that successfully launched a pilot basis of Central Bank Digital Currency (CBDC). The Reserve Bank of India (RBI) began testing the CBDC currency early this year for trade and common transactions. The RBI is testing the security aspects of digital currencies and conducting studies about their potential impact on the economy. Also Read: Trump Advancing to Fracture & Dismantle BRICS The launch of the CBDC could change the fortunes of BRICS member India, as it’s ahead of the curve in digital currencies. Out of the 198 countries in the world, 134 nations are currently working towards the formation of a CBDC currency. All the countries are currently in testing mode while only a few have reached the pilot testing phase. Also Read: 4 New Countries Show Interest To Join BRICS Alliance BRICS: India Gives Update on CBDC Currency Progress Source: Forbes / GettyImages Apart from the de-dollarization agenda, BRICS is also looking to topple the US...