Mumbai, Feb 25: The Reserve Bank today 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.
Bureau Report
