Taking the slow road
After a frenetic year, India's banks achieved basic Basel II compliance in March. But the advanced approaches and pillar 2 remain a long way off. By Sarfraz Thind
The implementation process of the Basel II capital accord in India has come a long way. Just 12 months ago, the country's banks looked to have settled into the kind of relaxed approach to regulatory implementation that often characterises Indian business. As late as May 2007, few banks had budgeted for Basel implementation, many still did not have a relevant risk management structure in place, and data collection was proving a serious challenge. In short, things had begun to look a little
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