Settlement system crucial for India, says central banker


CALCUTTA, INDIA -- An efficient payment system for financial trading is critical to meeting the challenges facing the Indian banking system, a senior Indian central banker told a bank economists’ conference in January.

Advanced risk management systems, sophisticated information technology (IT) infrastructure, human expertise and a comprehensive database are pre-requisites for Indian banks if they are to adopt the complex, risk-based Basle II bank capital accord, Reserve Bank of India deputy g