India extends Basel III timetable to enable banks to raise capital

The Reserve Bank of India's decision to defer implementation of Basel III by three months was taken to enable public sector banks to meet the increased capital requirements of the new framework, says a global head of markets for a domestic bank.

The guidelines, which were finalised in May last year, were meant to be implemented from January this year and will now take effect from the start of April. According to the central bank's notification, the move will better align the implementation sched