RBI official defends going beyond Basel III
Vishwanathan singles out aspects of financial system that make higher requirements appropriate
A Reserve Bank of India (RBI) executive director has defended the decision to impose capital requirements on Indian banks beyond the minimum prescribed by Basel III, arguing it should be put into the context of the Indian financial system when judged.
On September 4, N. S. Vishwanathan pointed to the "much longer recovery process of defaulted loans, shorter history of ratings assigned by rating agencies in Indian conditions" and the "relatively large population of unrated borrowers".
The
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