'Indian banks not affected by subprime crisis'

Indian banks are not affected by the US subprime crisis and are largely on course to meet the Basel-II guidelines by March 2008, the central bank's deputy governor, V Leeladhar, said on Thursday.

Indian banks are not affected by the US subprime crisis and are largely on course to meet the Basel-II guidelines by March 2008, the central bank's deputy governor, V Leeladhar, said on Thursday.

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"By and large Indian banks are not affected by the subprime crisis," he told reporters.

The Basel II norms, drafted by the Bank for International Settlements, seek to improve regulations by aligning regulatory capital requirements more closely to the risks faced by banks globally.