..........“The initial demand made was for around . 22,000 crore (for all financial institutions), which was pared down by the Planning Commission,” said the official, who is from the finance ministry. According to the official, the ministry will seek the extra amount because of the huge requirement of capital under Basel-III rules. According to the Reserve Bank of India, state-run banks will need about . 4.15 lakh crore – . 1.40-1.50 lakh crore of equity and . 2.65-2.75 lakh crore in nonequity capital – to meet higher capital requirements under Basel III. The RBI has already postponed the local deadline............
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