Which bank recently got board approval to raise Rs 8,000 crore to comply with Basel III norms?

Canara Bank

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Bank of Baroda

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Dena Bank

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State Bank of India

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None of the above

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Solution

The correct option is D State Bank of India
According to the country's largest lender, SBI, its board approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms. Masala bonds are rupee denominated specialized debt instruments that can be floated in overseas markets only to raise capital. Banks in India have to comply with the global capital norms under Basel III by March 2019, three months later than the internationally agreed time frame by January 2019.

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Similar questions

Q40) Identify the correct statement/s about the Basel norms introduced by the Bank of international settlements (BIS)

i) The Basel committee on banking supervision looks after the implementation of Basel norms.

ii) Basel norms 1 was introduced in 1990

iii) Indian banks are following Basel norms 2 which were introduced in 2004

iv) Indian banks will adopt Basel norms 3 in 2019

Q2. Consider the following statements Basel III norms:

1. The Basel III norms stipulated a capital to risk-weighted assets of 8%.

2. Indian scheduled commercial banks are required to maintain a CAR of 9% while Indian public sector banks are emphasized to maintain a CAR of 12%.

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