According to CoinMeta, as reported by The Hindu Business Line, India plans to propose the idea of a central bank digital currency (CBDC) at the upcoming BRICS summit (September 12th and 13th). The Reserve Bank of India (RBI) suggested linking the digital currencies of all member central banks as early as January to facilitate trade and transactions. If the proposal is approved, there could be fundamental changes in the way cross-border transactions are settled among the BRICS countries. Finance ministers from all member countries are expected to meet in early September to discuss the future development direction of CBDC. The CBDC mechanism of the BRICS countries could save billions of dollars in transaction costs during the settlement process, and this mechanism will not allow other currencies to enter, ensuring the self-sufficiency of this group of 11 countries.