RBI releases Basel III norms, says banks must maintain 7% core capital

Indian banks have to maintain Tier I capital, or core capital, of at least 7 per cent of their risk weighted assets on an ongoing basis, the Reserve Bank of India said in its final guidelines on Basel III capital regulations on Wednesday.Under the existing capital adequacy guidelines based on the Basel II framework, banks are required to maintain Tier I capital of at least 6 per cent of their risk weighted assets.The total capital ra...