India deadline delay ‘for the best’ says KPMG

A new KPMG survey shows the revised Indian deadline of March 2009 should boost Basel II take-up

The decision to move the Indian Basel II deadline to March 2009 instead of March 2007 has been called a "blessing in disguise" by a senior figure at KPMG. Since reviewing the deadline on October 31, the Reserve Bank of India (RBI) has been praised by the industry for enacting the delay.

This "blessing", according to Amreshwar Seth, senior adviser at KPMG, "is unlikely to slow down the process; in fact, it could provide some much-needed time to adequately execute the guidelines".

The RBI took its

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