Banks to comply with Basel-II norms without hassles: RBI
The Reserve Bank on Wednesday said it did not foresee any problem for Indian banks in complying with Basel-II standards and that all Indian banks would meet the parameters by March end.
By PTI |
MUMBAI: The Reserve Bank on Wednesday said it did not foresee any problem for Indian banks in complying with Basel-II standards and that all Indian banks would meet the parameters by March end.
"We do not forsee any problem (for banks to meet the Basel-II deadline). The second set of banks is going to be there by March 31," RBI Chief General Manager, Prashant Saran, told reporters on the sidelines of an IBA organised seminar here.
According to the guidelines, Indian banks having foreign operations were to meet Basel-II standards by March 31, 2008, while other scheduled commercial banks were to adhere to the norms by March 31, 2009.
Basel-II requires banks to enhance their IT-infrastructure to offer banking solutions, capital adequacy and improved risk management mechanisms.
Saran said the well-regulated Indian banking system was equipped to face challenges in financial markets such as the Satyam fraud and the regulator would ensure stability in the industry.
"We try to stabilise (the system). We try to see that banks are resilient, strong and capitalised (to face the challenges in market)," Saran said.
"We do not forsee any problem (for banks to meet the Basel-II deadline). The second set of banks is going to be there by March 31," RBI Chief General Manager, Prashant Saran, told reporters on the sidelines of an IBA organised seminar here.
According to the guidelines, Indian banks having foreign operations were to meet Basel-II standards by March 31, 2008, while other scheduled commercial banks were to adhere to the norms by March 31, 2009.
Basel-II requires banks to enhance their IT-infrastructure to offer banking solutions, capital adequacy and improved risk management mechanisms.
Saran said the well-regulated Indian banking system was equipped to face challenges in financial markets such as the Satyam fraud and the regulator would ensure stability in the industry.
"We try to stabilise (the system). We try to see that banks are resilient, strong and capitalised (to face the challenges in market)," Saran said.
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