Indian banks call for additional Basel II guidance
Indian banks have called on their regulator, the Reserve Bank of India (RBI), to provide adequate guidance for the implementation of the new Basel Framework for Minimum Capital Requirements, also known as Basel II, according to a survey by the Federation of India Chambers of Commerce and Industry (FICCI) released on August 9, 2005.
FICCI has a nationwide membership of over 1,500 corporates and over 500 chambers of commerce and business associations, and espouses the shared vision of Indian businesses.
"RBI should lay down norms on the application of the advanced techniques for risk measurement by banks. Commercial banks need regulatory support on operational risk management, identifying and appointing an appropriate outside credit rating agency and building a strong internal credit rating mechanism.
"The
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