Passage to India


Indian banks have been making great strides in implementing the Basel II regulatory capital regime, and are breaking new ground in the measurement and management of operational risk. They are also coming up against many of the op risk obstacles experienced by their Western counterparts, and their regulator has set a succession of deadlines for surmounting them. The Reserve Bank of India (RBI) announced on February 11 it expects all Indian banks to meet Basel II minimum standards for managing