RBI extends Basel III implementation time

The Reserve Bank of India (RBI) has extended the date for implementation of Basel III, the global capital norms for banks, by three months to 1 April. “The Reserve Bank of India has rescheduled the start date for implementation of Basel III to 1 April 2013 from 1 January 2013,” the central bank said. Read more

Both Finance Ministry and RBI want banks to shed their non-core business

The Finance Ministry’s eagerness to see banks shed their non-core business is not surprising. With Basel III norms kicking in from January 1, 2013, banks will need to not merely conserve their capital base, but beef it up to meet the additional requirements laid down under Basel III. That’s a tough call even for private sector banks. Read more