The cushion available in the system, which has a CRAR of over 12 per cent now, is, however, comforting. With a view to ensuring migration to Basel II in a non-disruptive manner, a consultative and participative approach has been adopted for both designing and implementing Basel II in India.
A Steering Committee comprising senior officials from 14 banks (public, private and foreign) has been constituted wherein representation from the Indian Banks’ Association and the RBI has also been ensured. The Steering Committee had formed sub-groups to address specific issues.