A Mauritius CBDC pilot may begin in November.
Mauritius plans to launch the pilot phase of a digital rupee in November, Bank of Mauritius governor Harvesh Kumar Seegolam announced.
Consultations with International Monetary Fund experts began the same year and resulted in the production of a feasibility report. According to Seegolam, Mauritius was the first country to benefit from IMF technical assistance with its CBDC project.The Bank of Mauritius set up a sandbox with an unnamed partner in December to explore potential features and “craft the Digital rupee based on the Mauritian specificities.
The digital rupee should be “a payment instrument to be made available to one and all” that will be intermediated to “ensure that commercial banks continue to be fully-involved in our CBDC journey.” It will also make monetary policy easier to manage and support financial stability, Seegolam said. The digital rupee will be interest free.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed faults Silicon Valley Bank execs, itself in bank failureSilicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve says in a highly-anticipated review of how the central bank failed to properly supervise the bank before it collapsed early last month. The report issued Friday takes a critical look at what the Fed missed as Silicon Valley Bank grew quickly in size in the years leading up to its collapse. The Fed finds that while poor management ultimately doomed Silicon Valley Bank, watered down regulations and social media's ability to rapidly hasten a bank run also contributed.
Read more »
Fed report on SVB collapse faults bank's managers — and central bank regulatorsThe Fed blamed failures on mismanagement and supervisory failures, compounded by a dose of social media frenzy.
Read more »
Fed faults Silicon Valley Bank execs, itself in bank failureSilicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday, in a highly-anticipated review of how the central bank failed to properly supervise the bank before it collapsed early last month.
Read more »
Fed Faults Silicon Valley Bank Execs — And Itself — In Bank FailureThe report points out underlying cultural issues at the Fed, where supervisors were unwilling to be hard on bank management when they saw growing problems.
Read more »
Fed faults Silicon Valley Bank execs, itself in bank failureThe report, authored by Federal Reserve staff and Michael Barr, the Fed’s vice chair for supervision, takes a critical look at what the Fed missed as Silicon Valley Bank grew quickly in size.
Read more »
Fed faults Silicon Valley Bank execs and itself in bank failureThe report issued Friday takes a critical look at what the Fed missed as Silicon Valley Bank grew quickly in size in the years leading up to its collapse.
Read more »