text:
This is to certify that the Management Thesis titled
STUDY THE IMPACT OF BASEL liON
.s.6l_submitted during
IV of the
MBA Program (The Class of 2010)
embodies original work done by me.
Signature of the Student Name (in Capitals) Ghosh Enroll Number ____ Campus 8NBAH027 Allahabad __ __ ____ Deepankar __
An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI
Acknowledging debt is not easy to us as we are indebted to many people but firstly towards my father and mother those who have given me opportunity to be in such a professional course. My acknowledgement debt will be incomplete if I fail to give sincere thanks to my MT Guide Mr. Prateek Jain as without his suggestion the final report would not have materialized of. I express my profound gratitude to her for making me the fortunate one to get the opportunity to work under her supervision and guidance. The keen interest, co-operation, inspiration, continuous encouragement and motivation provided by him enabled me to complete my research work in time. I would also take this opportunity to thank the Manager of SBI and bank personnel for given their valuable time and input regarding the topic to furnish it in a complete manner. Last but not the least I would like to thank all the faculty members and the Principal of INC, Allahabad for their kind cooperation and guidance.
Dipankar.B.Ghosh Enroll No8NBAH027
An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI LIST OF TABLES & CHARTS
Table No
Page No.
Pillars of Basel II
Rating & Risk weights indicated by RBI
CAR of banks during Global financial turmoil
CAR of State Bank Group
An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI
AMA - Advanced Measurement Approach BCBS - Basel Committee on Banking Supervision BIA - Basic Indicator Approach BIS - Bank for International Settlements CDO - Collateralized Debt Obligations CRAR - Capital to Risk Weighted Assets Ratio EAD - Exposure at Default ICAAP - Internal Capital Adequacy Assessment Process IMA - Internal Measurement Approach IRB - Internal Ratings Based Approach LDA - Loss Distribution Approach LGD - Loss Given Default MCR - Minimum Capital Requirements NIBM - National Institute of Bank Management NPA - Non Performing Assets PD - Probability of Default SA - Standardized Approach SRP - Supervisory Review Process Var - Value at Risk
The interview was done using an interview protocol prepared in consultation with my guide. Basel II is believed to can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. the second tries to separate the operational risk from credit risk. .An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI SUMMARY Basel II is basically the second of the Basel Accords. Basel II attempts to accomplish this by setting up ngorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices. suggestions and conclusions have been confined to the banks in Allahabad. In the current thesis I have done an interview based research to get knowledge of the challenges faced by the banks during the process of implementing Basel II norms. the first one which tries to ensure that capital allocation is more risk sensitive. The major limitation of the project has been that the research. which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. In practice. minimum capital requirements. the third attempts to align economic and regulatory capital more closely to reduce the scope for regulatory arbitrage. The Basel Committee on Banking Supervision has come up with three pillars namely. and quantifying both of them. supervisory review process and market discipline. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risks banks face.
. With the advent of Basel II the amount available with the banks for lending has come down and tends to increase again when the advanced credit measurement approaches are introduced.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI There are different aspects of the study like change in the quantum and quality of data being collected for the purpose of rating which had an impact on the manpower requirements of the banks. Procyclicality did not seem to be a major issue with the bankers as they found the counter cyclical measures of the central bank very effective. The banks which had actually calculated their capital requirements based on internal capital appraisal methods had their capitals well above the 9% limit set by the central bank.
The Basel Capital Accord introduced a system for implementing a credit risk framework for determining the minimum amount of capital that a bank must hold as a cushion against risks. the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. There is improvement in risk management system by Indian banks . Basel II insists on setting up rigorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk The underlying assumption behind these rules is that the greater risk to which the bank is exposed. It will also oblige banks to enhance disclosures.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI INTRODUCTION In 1988 the Bank for International Settlements' Basel Committee on Banking Supervision. The new accord aligns the requirement for capital on hand with the actual risk involved. but in virtually all countries operating international banks. In 2004. without regard for the actual operational risk incurred by the bank. providing an incentive for banks to improve risk management. The purpose of Basel II is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risk banks face. imposed the Basel Capital Accord. These international standards can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. commonly known as the Basel Committee. Basel II is the second of the Basel Accords recommended on banking laws and regulations issued by the Basel Committee on Banking Supervision. Thus Indian banks require Basel II compliance for the following reasons:1) Basel II norms will facilitate introduction of new complex financial products in Indian Banking Sector 2) Indian banks require a more risk sensitive framework. the Basel II Accord was established. One problem with the original Basel Capital Accord was that it took a "one size fits all" approach. The Basel Capital Accord was adopted over time not only in member countries.
Indian banks today. The concluding section outlines the additional improvements Indian banks would have to register in order to become globally competitive.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI 3) New rules will provide a range of options for estimating regulatory capital and will reduce gap between regulatory capital & economic capital. ahead of the opening up of the sector to foreign banks in 2010. operate in an environment characterized by progressive deregulation. development of credit assessment models. mainly in the areas of infrastructure requirements. RBI has enforced mandatory adoption of Basel II guidelines for Indian banks which are a set of prudential regulatory norms with an almost universal acceptance. and supervisory skills. benefit the larger and sophisticated bank like SBI and enhance the competitiveness of the bank in general. The study drills deep into the foundations of credit assessment using Internal Ratings method and data requirements for each determinant of credit risk before analyzing the progress of Indian banks on the implementation of these advanced approaches. This study explores the impact of Basel II on the Indian banking sector and how it would lead to shifts in lending structure. It then elaborates on the key challenges that SBI is facing after the implementation of Basel II guidelines. increased global integration and IT usage which have opened up a plethora of domestic and international opportunities for them. In light of this. .
But many are finding that implementation of Basel II is becoming a challenge. The main point that all Indian banks and particularly those in the public sector are missing is that Basel II is more about the risk governance structure of a bank and risk calculation is only an intermediate step towards building that structure. besides the compliance requirements? )0> Quantification of the end benefits from Basel compliance . Indian banks appear to be uncertain about the actual intent of Basel II guidelines.what does the bank stand to gain by ramping up and complying with Basel II? )0> What is the ideal phase-wise approach to implement Basel-II in the Indian context? )0> What are the practical problems that banks are certain to face or are currently facing in implementing Basel II? )0> Is Basel II a technology that can be bought off the shelf or does it involve business process re. Some of the key issues that require an attention of all sorts are:)0> Should banks be looking at the potential business benefits accruable from Basel-II implementation.engineering or is it merely a new way of calculating a bank's risk profile? .An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI DISCUSSION OF PROBLEM Banks are under increasing pressure to comply with Basel II guidelines.
)0> To analyze the challenges in implementing Basel II in State Bank of India. the impact of BASEL II on the Indian banking sector will be analyzed from the view point as follows:- )0> Need for Basel II? )0> The analysis on what is Basel II? )0> The objectives of Basel II )0> To analyze impact of Basel II on Indian Banks with special reference to State Bank of India.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI OBJECTIVE OF THE STUDY During this study. During the study the sub-objectives achieved will be as follows:- .
it becomes all the more necessary to provide the much required fiscal support to the banking industry. )0> Need for implementing Internal Ratings method for credit assessment INDUSTRY OVERVIEW The Indian banking sector has acquired a greater degree of resilience due to the financial reforms implemented in a gradual and sequential manner under the watchful eyes of Reserve Bank of India and Ministry of Finance.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI )0> Purpose of setting Capital Standards in banking Sector. Changes in these sectors are essential to boost comprehensive growth and revival of the economy. This was implemented by a participative process aimed at reduction in statutory pre-emption An assessment of the banking sector performance shows that banks in India have experienced strong balance sheet growth in the post-reform period in an environment of operational flexibility. Banks in India have always played a pivotal role in providing a thrust to the development of the country by assisting in the development of the priority sector in India which includes agriculture as well as in the industrial and infrastructural development. in the current challenging times of economic stagnation affecting these sectors. These significant gains have been achieved even while renewing the goals of social banking by maintaining the wide reach of the banking system and directed credit. Thus. The risk aversion which has crept into the domestic banking sector on account of the international banking crisis has created a situation of deep concern and threat for the real . reflected in significant improvement in capital adequacy and improved asset quality. is distinctly visible. Improvement in the financial health of banks.
following the phased reductions in cash reserve ratio and policy rates by the Reserve Bank of India.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI economy and all the players in it. There has been a lackluster demand for credit despite sufficient liquidity in the system and lowering of interest rates by banks. The obvious choice. Though there has been a revival of economic growth and a pick up in the pace investment cycle. With economic slowdown being the major issue at present. . so that they can continue to playa vital role in intermediating between the demand and supply of funds. according to bankers. which has to be acted upon. the banking sector expects several positive measures in the near future. Credit targets of public sector banks had been revised upwards to reflect the needs of the economy. The reduction in PLR required cut in deposit rates as well. There is a negative impact on the banking sector due to lending at fixed ceiling rates to focus sectors. the bankers' main concern is to fund growth without facing any hurdles. Challenges facing the Indian Banking sector this year include: compliance with Basel II norms and competition from foreign banks. Margins have been hurt as the banking sys-tem has raised a large portion of its liabilities at high rates in the recent past. is infrastructure funding. which called for a recapitalization plan for banks to improve their soundness and their ability to withstand sudden shocks-like the ongoing global crisis that has devastated many of top-notch US banks.
An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI .
In 1955. the controlling interest in the Imperial Bank ofIndia was acquired by the Reserve Bank of India and the State Bank of India (SBI) came into existence by an act of Parliament as successor to the Imperial Bank of India. In 1921. fund management. SBI has a vast domestic network of over 9000 branches (approximately 14% of all bank branches) and commands one-fifth of deposits and loans of all scheduled commercial banks in India. factoring services. . primary dealership in government securities.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI COMPANY PROFILE State Bank oflndia (SBI) is India's largest commercial bank. The eight banking subsidiaries are: ~ ~ ~ ~ ~ ~ ~ ~ State Bank of Bikaner and Jaipur (SBBJ) State Bank of Hyderabad (SBH) State Bank of India (SBI) State Bank of Indore (SBIR) State Bank of Mysore (SBM) State Bank of Patiala (SBP) State Bank of Saurashtra (SBS) State Bank of Travancore (SBT) The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. The State Bank Group includes a network of eight banking subsidiaries and several non-banking subsidiaries offering merchant banking services. credit cards and insurance. the Bank of Bengal and two other Presidency banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India.
An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Today. through its vast network in India and overseas. In recent years the bank has focused on three priorities. government nationalized The the bank in 1955. the Foreign Department and the International Services division. . With an asset base of $126 billion and its reach. reducing its huge staff through Golden handshake schemes known as the Voluntary Retirement Scheme. which saw many of its best and brightest defect to the private sector.the Domestic division. changing the attitude of its employees (through an ambitious programme aptly named 'Parivartan' which means change) as a large number of employees are very rude to customers. computerizing its operations and 3). SBI is the largest bank in the world. SBI's International Banking Group delivers the full range of cross-border finance solutions through its four wings . State Bank of India (SBI) (LSE: SBID) is the largest bank in India. international and NRI products and services. If one measures by the number of branch offices and employees. State Bank of India (SBI) has spread its arms around the world and has a network of branches spanning all time zones. the Foreign Offices division. 2). Established in 1806 as Bank of Calcutta. with the Reserve Bank of India taking a 60% ownership stake. SBI provides various domestic. 1). it is the oldest commercial bank in the Indian subcontinent. it is a regional banking behemoth.
Head of CLSA Banking Research (2008) in his report stated "Mortgageloan risk weightings drop from 50% to 35% under Basel II. . just adequate to ensure compliance to Basel II norms and gradually adopt more sophisticated approaches. Paves the way for financial institutions to proactively control risk in their own interest and keep capital requirement low. )0> P. Bank of Baroda. managing director. ~ C. )0> Rana Kapoor.S. )0> Anand Wadadekar (2008) in his study "Basel Norms & Indian Banking System" revealed that Basel II Norms offers a variety of options in addition to the standard approach to measuring risk. their effects on the banking structure and behavior and some likely outcomes of implementing them. elementary approaches. stating 'Banks that move proactively in the broad direction outlined by the Basel Committee will have acquired a definite edge over their competitors when the new accord enters the implementation phase". The continued regulatory challenge will be to migrate to Basel II in a non-disruptive manner". Shenoy. YES Bank (the latest entrant to new generation private banks in India).Chandrasekhar & Jayati Ghosh(2007) in their study "Basel II and India's banking structure" examined what the guidelines involve.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI REVIEW OF LITERATURE )0> Daniel Tabbush. chairman and managmg director.P. believes "Basel II compliance will eventually result in banks acquiring a competitive edge. making them much more profitable in terms of regulatory capital required. while small and medium-sized enterprise (SME) lending can move from 100% to 75%". holds "Most (Indian) banks are likely to start with simpler.
. chief executive officer. Those organizations with better risk systems are expected to benefit at the expense of those which have been slower to absorb change due to increased use of risk transfer instruments. gaps and inadequacies in the Indian banking system which may hamper the realization of the potential benefits of the new regime. however in a market like India it seems likely that the large domestic players will continue to playa very significant role regardless of the model used". This could improve the profitability of some banks relative to others.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI )0> Niall S. Booker.. ~ Ernst & Young in their survey in 2008 revealed that Basel II has changed the competitive landscape for banking.. They also tried to identify limitations.. driven by the availability of better and more timely risk information as well as the differential capital requirements resulting from Basel II. and encourage the trend towards consolidation in the sector.K. ~ Mandira Sharma & Yuko Nikaido (2007) in their study on"Capital Adequacy Regime in India" examined issues and challenges with regard to the implementation of CRAR norms under Basel II regime in India. HSBC India and chairman of the IBA Committee on Basel II states "There is the possibility that in international markets access may be easier and costs less for banks adopting a more sophisticated approach . It also concluded that portfolio risk management would become more active.
keeping in mind the main objectives of the research. The project has been limited to SBI Bank in Allahabad City. Secondary data: Secondary data is obtained from Indian Banking Association Journal. measurement and analysis of the data. METHODOLOGY In order to get a first hand knowledge of the impact and challenges faced by State Bank of India while implementing Basel II norms. It contains the blueprint for the collection. and Internet & Articles. in consultation with my MT Guide that "Expert Interview" would be the best way to get an detailed insight and appropriate results on my thesis. 2. So research designs include an online of everything done.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI RESEARCH METHODOLOGY RESEARCH DESIGN The project is carried out. Bank's Website. I found. DATA COLLECTION l. from defining the problem in terms of predefined objectives till the final analysis of data.Primary data: Primary data is collected from Expert Interview conducted through systematic & structured set of questions. hence I had chosen expert interview as my research methodology. The research design is the conceptual framework within which the research is conducted. .
Analyze how Indian banks sheltered and resisted themselves from global economic turmoil. Comparative analysis of Capital Adequacy Ratio of banks of different countries during global economic crisis.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI WORK UNDERTAKEN ~ BY ME The project is basically divided into five phases:1. 4. 3. Will the banks able to benefit or suffer their portfolio with Basel II? Future of Basel II or need to migrate to Basel III . 2. DISCUSSION OF IMPLICATION Since the project deals with impact of Basel II on SBI with an overview ofIndian banking sector there are certain issues that require further scope for the research which include: • • • • Growth in Indian banking sector after the implementation of Basel II Impact of Basel II on other public and private sector banks. Study the impact of Basel II on Indian banking sector. Identify the gaps and research methodology to execute it. 5. Analyze the impact of Basel II on SBI.
spread over 3 years. and supplementary (or tier II) capital comprising items such as undisclosed reserves. LOOPHOLES OF BASEL I: • Because of a flat 8% charge for claims on the private sector. in addition to credit risk. general provisions/general loan loss reserves.20. by initially prescribing various surrogate capital charges for these risks between 2000 and 2002. )0> Under Basel I. hybrid debt capital instruments and subordinated term debt. To measure market risk. It does not take into consideration the operational risks of banks. however. Further.banks with branches abroad were required to comply fully by end March 1994 and the other banks were required to comply by end March 1996. in the calculation of CRAR.0. 10. • . India responded to the 1996 amendment to the Basel I framework which required banks to maintain capital for market risk exposures. In order to calculate CRAR. at least 50 per cent of a bank's capital base should consist of core capital. evaluation reserves. banks have an incentive to move high quality assets off the balance sheet (capital arbitrage) through securitization thus reducing the average quality of bank loan portfolio. India implemented the Basel I framework with effect from 1992-93 which was. an amendment was made to Basel I to incorporate market risk. which become increasingly important with the increase in the complexity of banks. the bank's assets should be weighted by five categories of credit risk . 50 and 100 per cent. In 1996.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI RESULTS & ANALYSIS WHAT IS BASEL I: )0> Basel I is a framework for calculating 'Capital to Risk-weighted Asset Ratio' (CRAR). A standardized approach using a building block methodology b. banks were given the choice of two options: a. )0> Adopting the general approach of gradualism. An 'in-house' approach allowing banks to develop their own proprietary models to calculate capital charge for market risk by using the notion of Value-at -Risk (VaR). It defines a bank's capital as two types: core (or tier I) capital comprising equity capital and disclosed reserves.
Reserve Bank of India has accepted the accord and issued guidelines to ensure compliance with the norms from March 31. the 1988 Accord does not sufficiently recognize credit risk mitigation techniques. The focus in Basel 2 is the risk determination and quantification of credit risk. market risk and operational risk faced by banks. Switzerland. It is an improvement over Basel 1 which had certain deficiencies which have now been removed. The regulatory Capital requirement has been in conflict with increasingly sophisticated internal measures of economic Capital. Basel II stands on three pillars: . such as collateral and guarantees. but has also got provisions for supervisory review and market discipline. It is basically concerned with financial health of the banks worldwide. Thus. It not only deals with CRAR calculation.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI • Also. )0> Basel II is a much more comprehensive framework of banking supervision. 2008. supervisory review and market discipline. It was concentrating on only on credit risk • • BASEL II )0> Basel 2 is the new capital accord signed in June 2004 at Bank for International Settlement located at Basel. Basel 2 is based on three pillars: capital adequacy.
wf5 (i1J ti~~ DJ'iP~E a~ flli°'llalml. Besides. . Pillar 3 allows banks to maintain confidentiality over certain information. and (c) ask banks to maintain capital at a level higher than the regulatory minimum.yQ]lita:r.di!fi~Jioo ti~ ®:Fml~by ~ldlfina hmd~ 1~-pW'bUt~ ik . risk management. i:hl!' mgulitWl"blJ & NGoomlc ~pl~i!1rel1:lllJ-lr.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Baseln I'mJarl Mlnimumcaph:a:1 0I!!qj1Jes. ml ~I ID!JNtf lBlii:dI~~ Pili I~~mern. • Pillar 3 provides a framework for the improvement of banks' disclosure standards for financial reporting. Pillar 2 allows discretion to supervisors to (a) link capital to the risk profile of a bank. Further. • Pillar 2 provides a tool to supervisors to keep checks on the adequacy of capitalization levels of banks and also distinguish among banks on the basis of their risk management systems and profile of capital. asset quality. and Securitization Framework methods to calculate the capital requirement for credit risk exposures. A.Kl'i fmor q:u1~tl!ll~l~pit~~ fOr ~It Qll«li!'J'~f~DIi!. Pillar 1 allows flexibility to banks and supervisors to choose from among the Standardized Approach. The pillar also indicates the remedial measures that regulators can take to keep a check on erring banks and maintain the integrity of the banking system. and the like. which is a significant change from the "one size fits all" approach of Basel I. riC !ldN!i1mftis • Pillar 1 spells out the capital requirement of a bank in relation to the credit risk in its portfolio. iltilil! F!:Cqi ~u OI'~R '.I~~. Pillar 1 sets out the allocation of capital for operational risk and market risk in the trading books of banks. disclosure of which could impact competitiveness or breach legal contracts.brll 1t~ cal~ l~lll. regulatory sanctions."lartrlt . Internal Ratings Based Approach. (b) take appropriate remedial measures if required.-c menu-. G~ grpml.
Moody's Ratings Aaa to Aa A Baa to Ba B Unrated leRA LAAA LAA LA LBBB & below Unrated Risk Weights 20% 50% 100% 150% 100% Mapping for Corporate Loans and Bond Ratings and risk weights as indicated by the RBI* .An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI )0> Basel II gave a free hand to the RBI to specify different risk weights for retail exposures. the RBI has also come out with an indicative mapping of domestic corporate long term loans and bond credit ratings against corporate ratings by international agencies like Moody's Investor Services. To facilitate a move towards Basel II. in case they think that to be more appropriate.
It aims to give impetus to the use of internal rating system by the international banks. More and more banks may have to use internal model developed in house and their impact is uncertain. 2) Additional Capital Requirement: In order to comply with the capital adequacy norms we will see that the overall capital level of the banks will raise a glimpse of which was seen when the RBI raised risk weightages for mortgages and home loans in October 2004. Thus it would be reasonable to infer that the main focus of the new framework (Basel II) is on providing the right incentives to the banks to adopt data-based. especially at our largest. establishing and maintaining a minimum capital cushion sufficient to foster financial stability in periods of adversity and uncertainty. . which. Most of these models require minimum 5 years bank data which is a tedious and high cost process as most Indian banks do not have such a database. and grounding risk measurement and management in actual data and formal quantitative techniques. supporting a level playing field in an increasingly integrated global financial system. Basel II is the effort to improve risk measurement and management. would contribute to systemic and financial stability CHALLENGES FOR INDIAN BANKS UNDER BASEL II 1) Costly Database Creation and Maintenance Process: The most obvious impact of BASEL II is the need for improved risk management and measurement. enhancing market discipline. quantitative risk management systems to be able to adopt the advanced risk-sensitive approaches of the revised framework. in turn. most complex organizations.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI OBJECTIVES OF BASEL II Creating a better linkage between the minimum regulatory capital and risk. Here there is a worrying aspect that some of the banks will not be able to put up the additional capital to comply with the new regulation and they may be isolated from the global banking system.
4) Low Degree of Corporate Rating Penetration: India has as few as three established rating agencies and the level of rating penetration is not very significant as. validation of the internal models approved by their head offices and home country supervisor adopted by the Indian branches of foreign banks. While Basel II gives some scope to extend the rating of issues to issuers. Along with that a large proportion of loans of banks are of poor quality. ratings are restricted to issues and not issuers.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI 3) Large Proportion ofNPA's: A large number of Indian banks have significant proportion of NP A's in their assets. foreign banks are statutorily required to maintain local capital and the following issues are required to be resolved. so far. Date history maintained and used by the bank should be distinct for the Indian branches compared to the global data used by the head office capital for operational risk should be maintained separately for the Indian branches in India . Encouraging ratings of issuers would be a challenge. this would only be an approximation and it would be necessary for the system to move to ratings of issuers. 5) Cross Border Issues for Foreign Banks: In India. There is a danger that a large number of banks will not be able to restructure and survive in the new environment. This may lead to forced mergers of many defunct banks with the existing ones and a loss of capital to the banking system as a whole.
as required by the market risk amendments. Financial regulators generally impose a capital adequacy norm on their banking and financial systems in order to provide for a buffer to absorb unforeseen losses due to risky investments. It was stipulated that foreign banks operating in India should achieve a CRAR of 8 per cent by March 1993 while Indian banks with branches abroad should achieve the 8 per cent norm by March 1995.9 norm for India's commercial banks is higher than the internationally 1998. and its implementation was spread over the next three years. These were later replaced with VaR-based capital charges. defined as the ratio of a bank's capital to its total risk-weighted assets.2000. the capital adequacy accepted level of 8 per cent. and banks were Thus. which became effective from March 2005. All other banks were to achieve a capital adequacy norm of 4 per cent by March 1993 and the 8 per cent norm by March 1996.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI CAPITAL ADEQUACY STANDARD IN INDIA Capital adequacy is an indicator of the financial health of the banking system. India adopted Basel I norms for scheduled commercial banks in April 1992.5 per cent risk weight on the entire portfolio for these risks between 2000 and 2002. The RBI responded to the market risk amendment of Basel I in 1996 by initially prescribing various surrogate capital charges such as investment fluctuation reserve of 5 per cent of the bank's portfolio and a 2. . the Reserve Bank of 9 per cent. India has gone a step ahead of Basel I in that the banks in India are required to maintain capital charges for market risk on their 'available for sale' portfolios as well as on their 'held for trading portfolios' from March 2006 while Basel I requires market risk charges for trading portfolios only. In its mid-term review of Monetary and Credit Policy in October India (RBI) raised the minimum regulatory CRAR requirement to advised to achieve this 9 per cent CRAR level by March 31. It is measured by the Capital to Risk-weighted Asset Ratio (CRAR). A well adhered to capital adequacy regime does play an important role in minimizing the cascading effects of banking and financial sector crises.
. This was possible due to classic reports and model given by Mr.S. transparent and efficient market to protect market integrity.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI FACTS BEHIND INDIAN BANKS RESISTANCE FROM GLOBAL FINANCIAL TURMOIL The global financial crisis didn't directly affected India as Indian financial system has sound fundamentals and the Indian Government has put in place. India has been spared the panic that followed the collapse of banking institutions such as Fortis in Europe. considered to be the first move towards risk-weighted capital adequacy norms. In 1996 BCBS amended the Basel I norms and in 1999 it initiated a complete revision of the Basel I framework. Global financial crisis. deregulation of interest rates and allowing foreign and domestic private banks to enter the system. Narasimham about the policy framework for the Government of India and the RBI to formulate the structure of India's banks and financial institutions was based on adequate capitalization. India adopted Basel I norms for commercial banks in 1992. While the liberalization was aimed at bringing about competition and efficiency into India's banking system. good provisioning norms and well-structured supervision. income recognition. the prudential regulation was aimed at strengthening the supervisory system. The Committee also recommended gradual liberalization of the banking sector by adopting measures such as reduction of statutory preemptions. The Narasimham Committee endorsed the internationally accepted norms for capital adequacy standards. developed by the Basel Committee on Banking Supervision (BCBS). and Merrill Lynch. These exposure limits. which is important in the process of liberalization. the market risk amendment of Basel I in 1996. The RBI enforced strict capital adequacy requirements and if any financial institution or bank exceeded the specified limits of exposure to stock markets. Along with these. systems and practices to promote a safe. the Committee also recommended adoption of prudential regulation relating to capital adequacy. to be known as Basel II. Government of India and RBI accepted these recommendations and proceeded to implement them. BCBS initiated Basel I norms in 1988. In pursuance of the Narasimham Committee recommendations. it would have to provide more capitaL This effectively insulated the banks and financial institutions from volatility of the bourses. Enforcement of the above instructions has paid good dividends. asset classifications. Lehman Brothers and Washington Mutual in the U. however. deserve to be reviewed from time to time. Erosion of capital of the banks and financial institutions has been reduced. By and large. The turmoil in the international financial markets of advanced economies that started around mid-2007 has exacerbated substantially since August 2008.
Moreover 34 percent of our deposits were in government securities and cash with the RBI.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI This shows that there was no impact of the sub prime episode on the Indian banks & none of the Indian banks or the foreign banks. a few Indian banks had invested in the collateralized debt obligations (eDOs) / bonds which had a few underlying entities with sub-prime exposures. Even banks with international operations had less than 11 per cent of their total assets outside India. Finally Indian banks' global exposure was relatively small. The consumer loan to GDP ratio was just 10 percent. even though the overnight markets remained stable. However a few of these banks did suffer some losses on account of the mark-to-market losses caused by the widening of the credit spreads arising from the sub-prime episode on term liquidity in the market. had any direct exposure to the sub-prime markets in the USA or other markets." . However. with whom the discussions had been held. whereas this ratio is as high as 100 percent for the US. with international assets at about 6 per cent of the total assets. Thus. no direct impact on account of direct exposure to the sub-prime market was in evidence.
7 12.7 18. strict regulation and conservative policies adopted by the Reserve Bank of India have ensured that banks in India are relatively insulated from the travails of their Western counterparts.0 12.0 12.1 19.2 16.6 13.7 12.0 10.5 16.1 15.1 17. Partly as a result. Singapore & Indonesian banks have high capital adequacy ratio as compared to Indian banks who have maintained a steady average of 12 and above but less than 14.2 13.0 13. Brazil.5 12. Capital adequacy ratios ("CAR") are a measure of the amount of a bank's capital expressed as a percentage of its risk weighted credit exposures. Additionally.0 12. Hong Kong. However.6 16. So the risk weightages of these banks were enormous which lead to their downfall during economic turmoil.6 14.0 From the above table we can clearly demarcate that US.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI COMPARATIVE CRISIS ANALYSIS OF CAR OF BANKS DURING GLOBAL FINANCIAL N arne of the Bank Federal Bank of America Barclays Bank J P Morgan Chase Bank Kotak Mahindra Bank Brazil Bank Indonesian Bank Singapore Bank Hong Kong Bank Citibank UBSBank State Bank of India HDFCBank ICICI Bank Axis Bank IDBI Bank ING Vyasya Bank Punjab National Bank Bank of Baroda Indian Overseas Bank Allahabad Bank Union Bank of India Bank of India CAR (%) in 2008 22.5 21. . this cannot be advanced as a reason either for continuance of public sector dominance or for resistance to further financial sector reform. India has not witness the kind of crisis of confidence seen in advanced countries because the Indian banking sector is generally cautious and conservatively regulated as compared to foreign banking system where it is freely regulated.0 12.7 18. The banking sector in India is largely (70%) dominated by the public sector.
The first phase of the Accord took effect in 2007. therefore. There is also no question of credit crunch. Its aim is to safeguard the stability of the financial sector and one of its aspects is a comprehensive approach to risk. Thus. Banks can select from three methods of determining the risks and the associated capital requirements. it prescribes that this capital must be a better reflection of the actual credit risks represented by the companies to which the banks lend. An increase in the transparency of company accounting and of the information exchanged with banks has intended to result in greater objectivity with regard to the granting of new credit lines.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI IMPACT OF BASEL II ON INDIAN BANKS Indian banks are strongly regulated and supervised entities. In addition. As from 1 January 2007. . In particular. are subjected to rigorous on-site and off-site supervision and stringent prudential standards. this information is needed to evaluate their customer's creditworthiness. a need for a modified treatment for claims on banks. There is. Three quarters of companies are currently reported to have insufficient information about the banks' new credit risk criteria. the banks with the most sophisticated risk management will be rewarded with a lower capital requirement relative to their existing capital bases. denominated in domestic currency and funded in that currency. risks inherent in inter-bank exposures are not comparable to that of the corporates. which show signs of problems. The Basel Committee has provided discretion to national supervisors to assign a lower risk weight to the exposures to the sovereign of incorporation. This is one of the reasons why credit will not necessarily become more expensive. Basel II is the new regulatory framework within which all banks will have to work. banks were required to have historical credit information on their lending customers. The Accord regulates the amount of capital that banks will have to set aside for their loans. The more favorable the company's risk profile. banks' loan portfolios have in fact grown as a proportion of their total assets. the better the credit risk rating and the more favorable the bank's terms and conditions will be. and the second phase was implemented in 2008. weak banks and those banks.
Also the basic lending criteria are certainly continued to be the competence of the management.> CREDIT RISK The risk that a borrower or counterparty might not honour its contractual obligations . and adequate equity. the company's ability to repay the loan. IMPACT OF BASEL II ON SBI The impact on SBI can be best studied by analyzing the different types of risk involved with Basel II which is as follows:- ). There are two approaches for credit risk: 1. Moreover new Framework has helped to reduce Capital Base of Indian Banks by 1% to 2%.> ). or to refuse to grant further loans. Indian Banks may be required to raise over Rs. 70. Basel II has tightened up requirements on the demand side for loans and it is worth giving serious consideration to limit borrowing requirements and to alternative credit products. Under Basel II.000 crs additional Capital during the coming 3 years. which can have a considerable impact on a company's balance sheet. except a few Banks. 11. Standardized Approach (SA) Internal Ratings Based (lRB) approach. the banks are little forced to make its loans more expensive.> ).An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Thus Indian banks have developed: ). .l.> Credit and Operational Risk Models Business Models and Surrounding Processes Skill levels of Operating Personnel Valid and Integrated Data Backup With the advent of Basel II.which is very relevant to operating staff. to restrict outstanding credit lines.> ).
credit risk is measured in a more risk sensitive manner. exposure at default (EAD) and effective maturity (M) corresponding to a particular debt portfolio. Market Risk State Bank of India's Preparedness • Exploring the feasibility of using KVaR+ software for mapping Treasury Operations for market Risk. Existing Internal Credit Information System requirements. and interest rates . by linking credit ratings of credit rating agencies to risk of the assets of the bank. As far as the IRB approach is concerned. the value of securities. i. • • .An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI In SA. Models for implementation of Integrated Management are being implemented. subject to supervisory approval.Less relevant to operating staff. Developed adequate hedging mechanisms to absorb the impacts of Market Risk. The responsibility of providing the riskweights corresponding to various assets. lies with the supervisory authority of a country. This would involve estimation of several parameters such as the probability of default (PD).e. Credit Risk .State Bank of India's Preparedness • Existing Internal Credit Risk Assessment System refined and extended to cover Advance Accounts of Rs. under SA. loss given default (LGD). banks are allowed to use their internal estimates of credit risk. IS • being fine-tuned to meet Basel II • Risk Management and Operational Risk • Consultants are being appointed for Portfolio Credit Risk Modeling Exercise ~ MARKET RISK The risk of adverse price movements such as exchange rates. to determine the capital charge for a given exposure. more or less centralized at corporate centre. Their investment Risk is akin to the Country Risk and thus well protected. now covering Whole Bank. 25 lacs and above.
three approaches are used: 1. Under AMA. For each business line. a bank can. Basic Indicator Approach (BIA). use its own mechanism for . 2. people.Newly introduced & also very relevant to operating staff. Securitization Transactions are subjected to stringent treatment thus making them less attractive. approval. and systems or from external events . • ~ OPERATIONAL RISK The risk of loss resulting from inadequate or failed internal processes. to provide comprehensive ALM data analysis. additional Capital charge of around Rs. subject to supervisory determining capital requirement for operational risk. Market Risk State Bank of India's Concerns • During the FY: 2005-06. A capital charge for each business line is thus calculated for three consecutive years. In order to calculate the capital charges for operational risk. 1200 crore has been provided on account of Market Risk on AFS category of Investments. at first the bank's business activities are divided into eight business lines.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI • Implementation of Oracle Based ALM Software is in progress. Under SA. a capital charge is calculated by multiplying the gross income of the business line by a factor. Advanced Measurement Approaches (AMA) In the BIA. an estimate of the capital charge for operational risk is provided by averaging over a fixed percentage of positive annual gross income of the bank over the previous three years. Standardized Approach (SA) and 3.
However. time consuming and costly. may be in a position to adopt Basic Indicator Approach only. our Bank for the present. 4500 crore towards Operational Risk.SBl's Concerns • At 12% CAR. • Business Process Re-engineering Team is in place evaluating the processes and redefining the Systems & Procedures to mitigate incidence of losses on account of processes and Systems. the Bank may be required to provide additional capital charge of around Rs. • • Challenges in Implementation at SBI • Complexities in Systems and Processes involved in Basel II make the implementation process difficult. given the current level of MIS and Technical Sophistication. Availability and mapping of Validated and Auditable Data and Integration of the same to Basel II norms.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Operational Risk State Bank of India's Preparedness • Operational Risk Management Committee. is developing the ORM Policy to assess the losses to: 1) Physical Assets 2) Business and Systems 3) Process Management and Delivery Mechanism. The Bank has established systems and procedures and hence. may be required to provide lesser capital for Operational Risk under Advanced Approaches. Operational Risk . Adaptability of Operating Personnel to the New Skills Internationally active Bank like ours will face problem due to localization of Basel II norms in different Geographical Zones due to Home & Host Country Regulations • • • .
• • Main implications of Basel II on SBI • Currently the bank is moderately affected on account of Credit Risk. Risk based Internal Audit has been implemented across the Bank. Separate departments are set up to monitor and manage Credit Risk. Market Risk and Operational Risk. An In-house Committee is overseeing the Transition to Basel II. Basel II would tend to reduce CAR of the bank by around 150 bps. but the negative impact is expected to be neutralized over a period of 5 years • • Thus in a nutshell Basel II is basically a Risk Management Exercise which:• • • • Doesn't seek to change business models of the Bank. but adversely affected on account of Operational Risk. The Projected CAR tends to slide immediately by around 1. Requires to fine-tune/update Risk Management practices.50%.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI • • An Integrated Risk Governance Structure is set up to facilitate early migration to Basel II. Robust enough to capture all possible Risks the Bank is facing or likely to face. Without any additional Capital support. Initiate adequate and appropriate Risk Mitigation measures through effective Systems and Procedures .
like for instance the underarm limits for NPAs has been increased from 100% to 150% so there is an impact on the amount available for lending. 4. Basel II has not affected the short term lending of the banks. which was one of the common problems faced by the banks during this phase. . business risk data are also available with the banks which help in the rating process. The banks have a firm belief that short term lending is a major weapon in the bank's armory for the better utilization of the bank's short term resources. though some bankers feel it's just the aggregating of the data available in various databases. 3. so data privacy is not a major problem they say. where a single brush approach was adopted without taking any specific risks into consideration. The bank is of the view that with the advent of Basel II there will be better capital adequacy since they are based on the risks involved unlike the ones in Basel I. 2. Changes have been and will be there in the quantum of data collected due to the new Basel II norms. But it has also been affecting their business in a way. The bankers say that industry risk data. This has had an impact on the manpower requirements and the time availability for the job. While bankers say that there have been privacy and security issues faced during the collection of data for the purpose of rating but they were not clear on how they had overcome those issues. but the bankers say that there will be an impact on the pricing of these short term lending of the banks. This data collection though is critical for the banks for the purpose of ratings. the way it was predicted to affect. most others say that they did not have any issues related to privacy since the customer is obliged to provide data for the processing of the application with regards to security issue they were not aware of any security issues faced so far.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI FINDINGS 1.
5. Some of them were already demarcating some expenses as capital expenditure or revenue expenditure but this has been varying from bank to bank. 8. 7. . They were also of the view that their portfolios are well diversified to handle any such situation. their argument is that very few organizations which go for ratings. so the purpose of ratings which is actually to increase the value of the instrument is actually not working. The question related to pro-cyclicality seemed to be irrelevant as none of the bank felt that they have been affected or find any reason that they will be affected in the near future because of this. Some of them were of the view that in India there is no much demand for rating of corporate bonds and other instrument. Interest risk on banking book (MVE & Earning Perspective). get a good rating. There was feeling that there needs to be proper demarcation of the expenses incurred in order to have better comparability between the banks. 6. Those that had actually calculated ICAAPs had their capitals at well above the regulatory requirements averaging at around 12%. Credit concentration risk and others to calculate the ICAAP. Mostly the bank had their ICAAPs in tune with the regulatory capital requirements set by the regulatory authorities and IBA. Some also argue that the situation is opposite where the rating agencies are behind the banks to rate their instruments. They had used Liquidity risk. The interview with manager and officials threw up contradicting views regarding the number of rating agencies available in the country.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Further the banks are of the view that the excess liquidity with the banks can be diverted through into this route. Most of the banker is of the view that it's difficult to classify the expense incurred as a capital expenditure or revenue expenditure.
some were of the view that it definitely achieves the purpose it was set due the basic theme. 10. The banker were of the view that the prevalent economic and market conditions are pointers for consolidation and that the impact of the Basel II norms needs to be understood by both the banks and its customers.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI 9.e. banks had varying views some were of the view to wait and watch what happens next. The one exception which I said earlier was eager to proceed to the advanced approaches as they were confident of handling it. but after implementing Basel II separate departments have been entrusted with the task of managing Credit Risk. . Earlier there were no separate departments for managing risks. Regarding the comparability of the capital standards post Basel II. They feel it's good to wait for the stabilization period to end rather than to proceed to advanced measurement approaches in haste. the ideas propounded by Basel II and because it advocates for the international best practices to be adopted by banks. others were of the view that there needs to be further study regarding this. 11. i. Market Risk and Operational Risk.
/ A special forum within the framework of the Indian Bank's Association to facilitate the bankers to discuss live issues faced during the implementation of the Basel II. . Especially with the rise of the out sourcing culture in India too there could be security issues with regards to data security. it's not the crisis in itself that's the problem but the underlying factor that the countries and banks which implemented Basel II have faced the most of the heat of the current crisis. . . I feel that this could be an issue in the future considering the issues the developed countries are facing. . though ICAAP is totally the banks own calculations there needs to be some regulation with regards to this since there could be possibility that the banks could use future profits or other probabilities to set against capital requirements.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI RECOMMENDATIONS . . since it was one of the problems faced by the commercial banks ./ The methods and assumptions used to calculate the ICAAP needs to be made clear. so it's time the Basel Committee on Banking Supervision revisits the Basel II./ With regard to the treatment of Basel II implementation expenses incurred by the banks./ Though data privacy and data security issues have not posed a major problem with the bank in Allahabad./ The major problem facing the regulators is about the current crisis. This would make the transition easy especially for small banks implementing the norms in India. the reserve bank could support the banks with proper demarcation of the expenses other than those provided by the Indian Companies Act. hence it's worth the regulators give a look at this.
upgrading the data bases in IT systems ./ Finally./ Bank has to train all its employees so that everybody can understand about Basel Accord . among the consumers and with provided demand at the later stage the regulators could authorize more rating agencies . especially since the Indian banking sector is in a transformational process. . There needs to be a proper mechanism set in place to measure future IT systems loss. the Indian Banking Association needs to conduct regular workshops on corporate governance for the bank's board members . . Basel II is fundamentally about better risk management anchored in sound corporate governance. ./ The number of rating agencies available in India is low compared to the number of corporate accounts that need to be rated.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI ./ Though Basel II has reduced the amount available with the banks for lending it's for the good of the banking system as a whole so the strict capital standards . and the potential monetary losses it could cause. But first awareness has to be created about the uses and advantages of external ratings. ./ I feel that the banks would still face problems in capturing the IT systems losses under the current framework. The central bank needs to ensure strong corporate governance practices in the banking industry.
Deputy Governor.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI REFERENCES ~ 1. Basel II and Credit Risk Management (Speech) Shri V. Leeladhar. Deputy Governor.Y.. Deputy Governor. Regulation and Risk Management: Implementing Basel II (Speech) by Address of Shri V Leeladhar. Challenges and implications of Basel II for Asia (Speech) by Dr. Thirussur on 2005 6.An Indian perspective(speech) Address by Ms. 3. 7. ARTICLES: Approach to Basel II (Speech) by Mrs.V.Shyamala Gopinath. Implementation of Basel II .Leeladhar. and Reserve Bank of India at the program me on Basel II and Credit Risk Management. India's Preparedness for Basel II implementation. Reserve Bank of India 4.Reddy Demystifying Basel II (Speech) by Shri V. RBI at the Annual International seminar on Policy changes for financial sector on June 2005 . Deputy Governer.(Speech) The Special Address delivered by Shri V. Reserve Bank of India at the Panel Discussion during "FICCI-IBA Conference on Global Banking: Paradigm Shift. Deputy Governor. Kishori J Udeshi. delivered at the Platinum Jubilee Celebrations of the South Indian Bank Ltd. 5. Leeladhar. 2.
comlbankingl81022.comlsurveysIII. www.inlbasel II.comlindex.thehindubusinessline. Nagarajan N "Implications of Basel II for Risk Management Structure" ISBN: 81-7881-335-1 ICFAI University and Capital Press ~ WEBSITES: www.ficci.articlesarchive.com www.banknet. 2.aspx?Id=303 www.iniscriptsIBS SpeechesView. Preeti Phuskele "Basel II Norms.epaper.htm1.org www.com http://www.doc http://www.htm www.in/rdocs/Publications/Docs/21113.rbi.org.rbi.asp http://www.org.Implications on Business" ISBN: 81-3141-166-9 ICF AI University Press.banknetindia.pdf .org.bis.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI ~ BOOKS: 1.iba.
Did/Will Basel II cause changes in the way (intensity. depth etc) that you collect and process data? -7 If YES: How did it affect your business? How have you overcome it? -7 Does it impact your business in any way? -7 If NO: Do you think you will face any problem related to collecting and processing data? 2.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI APPENDICES Interview Protocol Basel II implementation and challenges faced by Indian banks. Have you so far faced any privacy or security issues with regard to collection of additional data for the purpose of Basel II? -7IfYES: what was the issue in specific? And how did you tackle it? . Name of the Bank: Address of the Branch: Name and designation of the person in charge: 1.
Does your bank have designated people to work exclusively implementing the various stages of the Basel II norms? 7IfYES 7IfNO 70r . how many? . How much in Percentage terms is your short term lending? Has Basel II discouraged you from such lending? 7 If YES do you think it is good for the bank in the long term perspective? 7 If NO so you would say that STL should be continued what is the major reason behind this view of yours? 6... didn't you find the need to employ personnel exclusively for that? was the current staff sufficient enough? 4..An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI 7IfNO: Do you think you would face any such situation in the future? as suggested by RBI on 3.. Do you think the high rise in the risk weights would increase the cost of borrowings for your consumers? 7 Comment 5. Has the lack of knowledge of employees posed any problems in implementing BASEL II norms in your bank? 7IfYES: 7IfNO: what were the specifics? How did you equip the employees? .
How do you think the expenses should be treated? 7 If NO. Do you have any reservations in classifying the expenses incurred in implementing Basel II? 7 If YES.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI 7 Did you get any help for the central bank's side in this regard? 7. how different is it from the regulatory capital requirement? 7 What are the variables you use to calculate this? 8. resources up ----Thank you---- . So you agree that the additional expenses incurred gradation need not be treated as Investments right? In technology. What is the current Internal Capital Adequacy Assessment Process (ICAAP) of your bank.
5 11.1 12.5 12.9 12.2 11.5 12.4 11.4 11.4 12.7 11.3 11.3 12.5 12.6 12.0 11.2 10.4 13.1 II 200708 8 NA 12.2 200607 5 12.4 12. No.1 14.5 13.5 12.8 11.0 11.7 11.1 .5 12.3 14.4 12.7 13.1 11.6 14.3 12.4 11.5 13. 1 Name of the Bank 2 State Bank Group State Bank of India State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Travancore 200405 200506 4 12.6 11.7 Basel1200809 7 13.6 13.5 13.9 12.An Analytical report to study the impact of Basel II on Indian banking sector with special reference to SBI Appendix Table 1: Capital Adequacy (As at end-March) Ratio (Per cent) Basel- Basel- Sr.3 12.4 11.3 12.0 3 12.0 13.5 11.6 11.8 12.7 Basel-I 2007-08 6 13.5 II 200809 9 14.


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Door Locks / October 10, 2018 / Musette Narcisse.
If you are still looking for the best garage door locks to secure your garage here are some advice and information gathered from law enforcement and security systems personnel. Choosing Door Locks Replace standard door locks that usually come with garage doors as they are not resistant to picking hammering and other attacks. For overhead doors that roll up or tilt up secure them with bolts or padlocks that are installed in the center of the tracks one-fourth of an inch above the roller when the door is closed. You can also choose a padlock and bolt combination and extend the bolt into the metal sleeve and have it recessed into the driveway by about two or three inches.
We may change the code if we want later using another secured system. This is done especially to avoid the chance of revealing the pin code accidentally. Another type of digital locking system is the digital card locking system. This is a highly popular lock used in the important industries as hotel as it is more convenient and flexible. Users do not need to memorize specific code for the confirmation and can unlock the lock using a specific credit card which has the necessary confirmation signals. When we close the door after unlocking them these doors will automatically locked again. For traditional type of lock there is an option to use a pin code to unlock them.
Make sure to keep these tips in mind while you are shopping so that you will be able to select the best patio door lock for your home.mThere are some great options available for sliding glass door locks that you can use to keep your sliding door safe from intruders. When people think about securing their home one of the doors that is often left out is the sliding glass door. This is one door that is very easy to enter if it does not have the proper lock installed on it so you will want to take the time to learn about the different types of locks that can be used to keep it secure.
Another option is the deadbolt lock type which often complements a latch lock. Ideally a deadbolt should be situated top and bottom of the door to make it that much harder to pry the door open. If you are having a little bit of trouble selecting the lock that you want to use then there are a few different things that can help you make a decision. The first thing that you want to think about is the people who are going to be using the lock. You want it to be easy for them to get in and out of the door. However at the same time you want to choose a lock that is going to keep thieves out of your home.
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Household - The household is the independent unit of customers. Government - A government is a formal body which is in charge of creating and enforcing laws within a state. Developed - Developed nations are those which meet certain criteria of economic measurement including gross domestic product GDP per capita, industrialization, etc.
Underdeveloped - An underdeveloped nation is one which has not yet organized, nor begun to organize in terms of job growth, industrialization, health care, etc.
Developing Economy - A developing economy is one in which there may be hunger issues but not what you would find in an underdeveloped economy , and where you may find a wide variety of progress being made on the development spectrum. In addition to understanding the basic terms associated with economics, you'll also need to familiarize yourself with different economic systems. An economic system is the way that production within a society occurs. It involves how goods or services are produced, distributed, and managed within the society.
Here are the economic systems you should be familiar with. Sometimes people conflate confuse some of these economic system terms with political system terms. Capitalism - Capitalism is the economic system many are already familiar with.
The purpose of capitalism is to ensure that production occurs that maximizes profit and is characterized by competition against other producers within the system. The means of production are privately held. Socialism - Socialism is an economic system in which the means of production are held in common amongst members. There are many different types of socialism, and some types of socialism communism, for example are also political theories.
Market Economy - A market economy is an economy in which there is a strong division of labor someone owns the restaurant, someone manages the restaurant, yet other people carry out the tasks of cooking and waiting tables ; supply and demand is what allows individuals to set prices. Supply and Demand - Associated with market economies and setting price points, supply is the number of goods or services produced and demand is the number of consumers wanting the goods or services.
The higher the demand and the lower the supply, the more expensive an item will be whereas the higher the supply and the lower the demand, the lower the price. Traditional Economy - A traditional economy is based on agriculture.
Mixed Economy - A mixed economy is one which combines elements of both capitalist societies and socialist societies. Mixed economies feature some elements of the ideals of capitalism and private ownership of the means of production along with elements of the ideals of socialism with the public governmental ownership of the means of production.
Planned Economy - A planned economy is an economy in which the state directs the economy. This means that the state will determine how goods will be produced and to whom the goods will be distributed.
Gift Economy - A gift economy is one in which goods and services are freely given to others without any expectations for returns of the favor. Barter Economy - A barter economy is one in which goods and services are traded for other goods and services without an intermediary form of payment like money. Millions of people lost their jobs, homes, and savings. Many of them depended on charity and government aid to put food on their tables. The Great Depression was so severe, it impacted the economies of nations around the globe.
It lasted about a decade, ending when the U. Our involvement in the war created many defense-related jobs. Interest The fee for using someone else's money. For example, if a person borrows money from a bank to pay for college, he or she pays back the amount borrowed plus interest.
On the other hand, if a person deposits money in a bank savings account, he or she gets to collect interest from the bank. The bank is allowed to use the person's money temporarily. In return, it must pay the customer interest. Interest is almost always calculated as a percentage or rate. See " Interest Rate ". Interest Rate The percentage at which interest is charged or paid.
You calculate the interest by converting the percentage to a decimal, then multiplying it by the amount borrowed: Investment Anything that is purchased with the hope that it will generate income or be more valuable at a future date. Some investments are "sure things. A savings bond will definitely be worth more in the future, because it is guaranteed by the government.
Other investments are more risky. That means there is a chance that they become less valuable, instead of more valuable, over time. Stocks are one example. See "Stocks" for details. Layoff The loss of a job when a company cuts costs. For example, one car maker had to lay off hundreds of employees last spring. The car maker had not been doing very well. Because of high fuel prices, customers were not buying SUVs and other big cars. To survive in this economy, the car maker had to lay off some of its employees.
The company will save money because it no longer has to pay those workers. People take loans in order to pay for new homes, new cars, college tuition, home improvements, and other things.
Companies often take loans in order to expand their business for example, a restaurant owner might borrow money in order to open another restaurant. Banks are willing to lend money to people and businesses because they expect to get back the amount of the loan plus a fee called interest. See " Interest ". Collecting interest is how banks stay in business. It is the heart of New York's financial district, the place where stocks are traded and important business decisions are made.
However, when people talk about Wall Street in today's economic crisis, they usually do not mean the actual place. They use the phrase "Wall Street" to stand for big businesses and high-powered investors.
Main Street might be real place in your town. Thousands of towns and cities across the country have a Main Street. But when people talk about Main Street in discussions about the economy, they do not usually mean a real street. They use "Main Street" to stand for everyday people and small businesses. Lately, you may have heard the expression "Wall Street versus Main Street. That's because many people feel that decisions made by big investors have been hurting everyday Americans. Many people criticized the Bailout Bill see "Bailout Bill" , saying it does more to help big business and investors than everyday people.
Mortgage A loan that is used to buy a house. In the past, many home buyers had to work hard to get a mortgage loan. They had to prove to the bank that they earned enough money to pay for the house over time. But over the past few years, getting a mortgage loan became easier and easier.
Banks were eager to give loans, and homebuyers were eager to get them. In many cases, buyers were given mortgage loans that they could not afford to pay back. This was one reason for the current economic crisis. During a recession, businesses sell fewer goods and services. See " Depression ". Regulations Rules of conduct for banks, stock markets, and other financial institutions. Regulations are passed by the government and its agencies. For example, the Securities and Exchange Commission is responsible for making rules about the stock market see " Stock Market ".
One rule says that any company that sells stock must publish reports about how the company is performing. Regulations like this one are meant to keep our financial system operating fairly. Savings Account A bank account where money is kept so that it can grow. When a person opens a savings account, he or she can deposit money into the account or withdraw money from the account.
Money that is in the account earns interest from the bank. That is, the bank pays the account holder a small fee. This fee is calculated as a percentage of the money in the account.
Stock An ownership interest in a company. Stocks are sold by companies to raise money. When a person buys stock in a company, he or she owns a tiny part of that company. When a company is doing well that is, selling a lot of goods or services and making a lot of money , the value of the company goes up. The price of the company's stock goes up, too. Then, a stockholder can sell his or stock and make a profit. When many stock prices stay low for a long time, it is a sign of a weak economy.
Stock Market A place where stocks, or part-ownerships in companies, are bought and sold see " Stock ". There, people can buy or sell stocks in more than 2, different companies. If a person wants to buy or sell stock in a company, he or she can go to the exchange. Or, he or she can call a stock broker, a person whose job it is to buy and sell stocks.
Taxes Taxes are the main way people pay for their government. One kind of tax is the income tax. Every year, workers pay a sizeable percentage of their income, or salary, to the nation's government and to the government of the state where they live. Another kind of tax is a sales tax. In 45 of the 50 states, people pay a few extra cents for each dollar that they spend in a store.
The extra cash goes to the state government. Income taxes and sales taxes help the government pay for things like roads, schools, and the armed forces. However, many Americans argue that taxes are too high.
Treasury Department The part of the federal government that manages the nation's money. Once the President and Congress agree on a budget for the nation, it is up to the Treasury to raise enough money for the items on the budget and then oversee the spending. One way the Treasury raises money is by collecting taxes from people and businesses. Another way is by selling savings bonds and notes to investors. Have you ever received a U. Those are sold by the U. The Treasury Department is very large.
It has 12 sections, or "bureaus. Mint, which prints all U. Another is the Internal Revenue Service, which collects taxes.
The Economist offers authoritative insight and opinion on international news, politics, business, finance, science, technology and the connections between them.
An authoritative and comprehensive dictionary containing 2, key economic terms with clear, concise definitions. It covers all aspects of economics including economic theory, applied microeconomics and macroeconomics, labour economics, public economics and public finance, monetary economics, environmental economics, and many others.
Economic Glossary is a list of over 2, common economic terms definitions. With our Economics dictionary, you look up economic definitions . How to use this dictionary: The page below contains most of the key terms from an introductory Economics course. To read a definition scroll your cursor over a .
economics terms dictionary free download - Economics Terms Dictionary, Economics Terms Dictionary, Dictionary of Economic Terms . Scottish political economist and moral philosopher. His inquiry into the Nature and Causes of the Wealth of Nations was one of the earliest attempts to study the historical development of industry and commerce in Europe.


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Adriaen van Ostade
Adriaen van Ostade (baptized as Adriaen Jansz Hendricx) was born on 10 December 1610 and died in 1685). He was a Dutch Golden Age painter of genre works. He also made a number of etches.
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April 19, 2019
Mueller reveals Trump's attempts to choke off Russia probe
Public at last, special counsel Robert Mueller's report revealed to a waiting nation Thursday that President Donald Trump ...
April 19, 2019
The Latest: Report shows Trump trying to shut down probe
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April 19, 2019
Corbin earns 1st win with Nationals, beats Giants 4-2
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April 18, 2019
Trump welcomes wounded warriors who are on their annual ride
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April 18, 2019
Washington set to be 1st state with long-term care benefit
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April 18, 2019
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April 18, 2019
Mueller report release spirals into political gamesmanship
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April 18, 2019
Dems ask White House aide Miller to testify on immigration
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April 17, 2019
Harris, Booker miss most votes of senators running in 2020
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AP source: Officials consider new penalty for visa overstays
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White House: Congress not smart enough to assess Trump taxes
A White House spokeswoman says lawmakers aren't "smart enough" to assess President Donald Trump's tax returns.
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Hotel Carskie Koszary
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Property Location With a stay at Hotel Carskie Koszary in Zamosc, you'll be convenient to Rynek Wielki and Zamosc Cathedral.Rooms Make yourself at home in one of the 22 air-conditioned guestrooms. Your room comes with a Select Comfort bed. Complimentary wireless Internet access is available to keep you connected. Bathrooms have showers and hair dryers.Rec, Spa, Premium Amenities Take in the views from a garden and make use of amenities such as complimentary wireless Internet access and wedding services.Dining Satisfy your appetite at the hotel's restaurant, which serves lunch and dinner, or stay in and take advantage of room service (during limited hours).
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Busty blonde babe Andie Anderson has no inhibitions. None. Zero. Zilch. We took her to the most crowded public places we could find and Andie didn't flinch. She let her big tits flop at every chance and got totally naked so often that a couple of times she forgot where she left her clothes. The guys that caught the show were more than appreciative and THAT got Andie so horny that she masturbated in a wide open mall parking lot.


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- September 4, 1929 - March 5, 2013
- Bellefontaine, Mississippi
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Ruby was born on September 4, 1929 and passed away on Tuesday, March 5, 2013.
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Capital Gazette Shooter Was Known as a Threat But Newspaper Did Not Take Precautions
There was another mass shooting. The shooter used a shotgun, not an AR15. Joe Biden said the following in 2013: "You don't need 30 rounds to protect yourself. Buy a shotgun." Should former Vice President be held responsible for suggesting the use of a shotgun? Of course not.
Like clockwork, many in the media blamed Donald Trump:
In a since-deleted and apologized-for tweet, Reuters editor John Cox wrote that Trump had blood on his hands. "This is what happens when @realDonaldTrump calls journalists the enemy of the people. Blood is on your hands, Mr. President. Save your thoughts and prayers for your empty soul," Cox wrote on Twitter. "At least four people killed in Maryland newspaper shooting: reports."
Cox wasn't the only media person to accuse Trump publicly of "having blood on his hands" because of his attacks on media outlets that disseminate "fake news." It's OK for Leftists to attack "conservative" media outlets like Fox News, Rush Limbaugh, and Sean Hannity, but don't ever question the integrity of the massive Left-wing media giants. Left-wing journalists have been attacking conservatives for decades. We don't kill them for their bad journalism. We counter them with our own news and opinion reporting that many of the tech giants block on their news feeds.
Trending: Will the 'Rapture' Happen on April 23rd? Here's How I Deal With Prophetic Date Setters
Having the right to "freedom of the press" does not mean freedom from being criticized.
The rhetoric coming from the Left has been unprecedented. Her's just a sample:
"Left-wing billionaire Tom Steyer said perhaps there could be a 'nuclear war' that would provide a 'real course correction' to Donald Trump's presidency during an interview published by Rolling Stone." (Free Beacon) Ponder that scenario for a while.
The accused shooter had a long-term vendetta against the Capital Gazette newspaper because of a story it published about his 2011 "conviction for criminal harassment."
A then-Gazette columnist, Eric Hartley, wrote a story about his conviction and his history as a harasser. Ramos reportedly turned his anger on Hartley and the paper, starting a website dedicated to discrediting Hartley. In 2012, Ramos launched a lawsuit, representing himself, against Hartley, the Capital Gazette, its parent company, and editor Tom Marquardt. (Breitbart)
Even after losing his appeal in 2015, the shooter continued to harass the Gazette well into 206. All of this took place before Donald Trump became President. Here's the important part. The Capital Gazette knew the shooter was a physical threat.
"He waged a one-person attack on anything he could muster in court against the Capital," Tom Marquardt, a former editor of the paper, told the Los Angeles Times. "I said during that time, 'This guy is crazy enough to come in and blow us all away.'"
Any paper worth its journalistic salt would have known about the threat of this "f***** nut job" and taken precautions.
Some years ago, one of my companies received an envelope filled with a white powder. We called the police. It was a big deal. We often got threats because of the types of positions we took on political subjects.
We had been put on the Southern Poverty Law Center (SPLC) "hate list." We were made a target like the Family Research Council had been made a target when an armed man used the list as a reference guide and tried to kill employees of the organization. "He told the FBI that he wanted to kill anti-gay targets and went to the law center's website for ideas." (The Blaze) What stopped him? An armed guard.
We started locking our doors. There were always at least two people armed at all times.
These are simple and inexpensive solutions. If the media perceive a threat, it is their responsibility to act on it.
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