Indian banks are ramping up risk management systems, says survey

A survey conducted by Oracle India, i-flex solutions and the Indian Banks Association (IBA) has revealed that a majority of Indian banks plan to build comprehensive risk management systems while progressing with their Basel II compliance initiatives.

The survey focused on the challenges of becoming Basel II-compliant for Indian banks, and was conducted among Indian bankers as part of a larger Basel II seminar hosted in Mumbai by Oracle, i-flex solutions and IBA, which aimed to understand the nuances of Basel II compliance and to assess the preparedness of Indian Banks for Basel II compliance.

The Reserve Bank of India (RBI) recently extended the Basel II compliance deadline from March 31, 2007 to March 31, 2008, to provide banks with more

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