Basel-III: RBI makes it a must for banks to detail debt terms

MUMBAI: To ensure capital raised by banks is in compliance with Basel III regulations, RBI today asked banks to submit a report offering details of debt, including terms of the issue.

"... on Basel III capital regulations, banks are required to submit a report to the Chief General Manager-in-charge, Department of Banking Regulation, RBI, giving details of the debt raised, including terms of the issue with a copy of the offer document, soon after the issue is completed," RBI said in a statement.

"The above measures were intended to ensure the debt and capital raised by banks in India are in compliance with Basel III capital regulations."

The Basel rules are being implemented in India with effect from April 1, 2013 in a phased manner.

The full implementation in India is extended up to March 31, 2019.