India state sector banks require $40bn capital infusion to combat Basel III shortfall
India finance minister proposes setting up a financing entity to help raise capital for state-owned banks through bond issuance
India's state-owned banking sector will need to raise a minimum of $40 billion in additional capital over the next five years to meet Basel III guidelines laid down by the Reserve Bank of India (RBI), according to rating agency Fitch Ratings.
Earlier this week, the RBI published its guidelines for Basel III capital regulation implementation, phasing them in earlier - from 2013 versus 2015 under the Basel Committee on Banking Supervision outline - and with a longer transitional period: the
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