....While it is not known what prompted the RBI to take a ‘holier than thou’ attitude in stipulating stricter norms a and shorter time-frame than those prescribed under the Basel III guidelines, more so when our country’s economy is in a state of flux, it will, no doubt, result in developing a strong and stable banking system in India, that can stand the test of times and the country can feel proud, if what is stipulated by RBI is achieved without any mid-term course correction. As nearly 70% of the banking business in our country is in the public sector, this requires concerted efforts on the part of the banks, RBI and the government to source this large capital requirement of the banks and the regulatory authorities should provide the necessary wherewithal for the banks to comply with these requirements in good time, without any hiccups. .....
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