Indian banks well capitalised and can comfortably adjust to Basel III norms

The Reserve Bank of India (RBI) Governor Duvvuri Subbarao said on Friday Indian banks were well capitalised and can comfortably adjust to Basel III norms.

He also said that there was a strong case to review and recast banking legislation.

Troubled, intrigued banks see financial inclusion as obligation not opportunity, Subbarao added.

The governor also wants the banks to reduce net interest margins to help double-digit economic growth.