India cbank extends deadline on capital norms under Basel III to March 31, 2019

MUMBAI, March 27 Thu Mar 27, 2014 7:54am EDT

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MUMBAI, March 27 (Reuters) - The Reserve Bank of India extended the deadline for banks to implement Basel III capital planning rules by a year to March 31, 2019, due to concerns from the industry on potential stress to asset quality, the central bank said on Thursday.

"Of late, industry-wide concerns have been expressed about the potential stresses on the asset quality and consequential impact on the performance/profitability of the banks," the RBI said.

(Reporting by Neha Dasgupta; Editing by Sunil Nair)