In the 1980s the Basel Committee started its work of formulating international standards for the capital adequacy of banking institutions. In 1988 this resulted in the Basel framework - now called the Basel I framework. This is still the basis for the requirements of the size and structure of the capital of banking organisations in more than 100 countries all over the world.
The Report provided an assessment of the professional staff of the RBI engaged in monitoring the implementation of recommendations and benefited from the views of several inside and outside experts. The World Bank and the International Monetary Fund jointly brought out, in September 2005, a comprehensive Handbook on Financial Sector Assessment.