It probably would not get very far and run the risk of damaging the whole rail network. In the same way innovation by an individual bank is greatly enhanced if everybody else is innovating, not least the regulator. The global financial crisis has very clearly exposed the dangers of the failure of regulators to keep abreast of developments taking place in the financial arena.
The Bank of Mauritius is fully aware that it has a role to play in supporting innovation by individual banks. It has also been active on this front with a heightened role in the area of regional integration. Central banks’ concerns are however of a different nature.