banks in india

The 1988 Basel Capital Accord (“Basel I”) has been implemented as the capital adequacy standard for banks and has been adopted by more than 100 countries successfully. The fundamental objectives of the Accord were to strengthen the soundness and stability of the international banking system. Basel I, has been adopted by the leading industrialised nations as well as the emerging economies, including most in Asia. Full Article

After 31st March 2010 Indian banks will have to adhere to the Basel II norms. India had adopted Basel I guidelines in 1999. Later on in February 2005 the RBI had issued draft guidelines for implementing a New Capital Adequacy Framework, in line with Basel II. The deadline for implementing Basel II, originally set for March 31, 2007, has now been extended. Foreign banks in India and Indian banks operating abroad will have to adhere to the guidelines by March 31, 2009. Full Article

Revenue authorities have done banks a good turn towards the close of the financial year. By clarifying that the deposit insurance premium, collected by the Deposit Insurance and Credit Guarantee Corporation (DICGC), is not taxable, the authorities have saved banks, which ultimately would have borne this burden, from paying taxes totting up to a few [...] Full Article

The proposal will also include providing loans at below market rates to real estate developers. But the loan disbursed under this will come with a number of conditions like an upper ceiling on selling price of flats and individual homes.The government is considering a proposal to make home loans cheaper for consumers through interest subsidy, aiming to stimulate demand in the realty sector which has a spin-off effect on many industries like cement and steel, said a senio.. Full Article