India new bank capital rules to start in April: RBI

MUMBAI Fri Dec 28, 2012 10:16pm IST

A labourer works on the sign of a bank building in Ahmedabad November 26, 2010. REUTERS/Amit Dave/Files

A labourer works on the sign of a bank building in Ahmedabad November 26, 2010.

Credit: Reuters/Amit Dave/Files

Related Topics

MUMBAI (Reuters) - India will start implementing new global capital rules for banks, known as Basel III, from April 1, 2013 rather than the beginning of January, the Reserve Bank of India (RBI) said on Friday.

It said this would align the introduction of the rules with the start of the country's tax year, which runs from April to March. The RBI gave no other reason for the change.

The new rules have been created by international regulators to strengthen banks after the financial crisis. Under the Basel III regime, India's banks will have to hold core capital of at least seven percent of (risk weighted) assets.

The central bank had originally said in May that implementation of Basel III would begin in January. The new rules are set to be fully implemented by the end of March 2018.

(Reporting by Shamik Paul. Editing by Jane Merriman)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS EXCLUSIVE

REUTERS SHOWCASE

Modi In U.S.

Modi In U.S.

Obama, Modi work to deepen improving U.S.-India ties  Full Article | Related Story 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage