Challenges ahead for Indian banks, but RBI remains confident
MUMBAI – The Reserve Bank of India (RBI) has reiterated that there will be no further extensions to the Basel II implementation deadline, which has already been postponed by one year to March 2008.
"There will be no further changes in the deadline for Basel II implementation. The deadline for banks having international presence will be March 2008, while banks having no international presence will have to comply with Basel II norms by March 2009," says V Leeladhar, deputy governor of the Reserve Bank of India.
The RBI is confident that banks are on the right track with regard to Basel II but freely admits there are challenges ahead. The credit risk assessment will be particularly difficult due to the lack of rating agencies in India and, as with elsewhere in Asia, finding skilled staff to implement the advanced approaches will be difficult.
More on Risk Management
Analysts extrapolate from £1.8bn FCA fine
New approach introduced six months ago, as event risk increases
‘Under-risked’ plans will not hit 7.5% return targets, warns Paamco CEO
Chief risk officers from boutique and institutional investment firms talk about their risk management and reporting platforms
Sign up for Risk.net email alerts
Sponsored webinar: IBM
Watch highlights of this year's London conference
Operational risk and the challenges of defining and dealing with conduct risk
Watch discussions and speakers from our North America conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.