‘Basel III Accord’ or simply ‘Basel III’, often seen in the news, seeks to:

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Correct Answer: improve banking sector’s ability to deal with financial and economic stress and improve risk management. Basel III Accord is a global, voluntary regulatory framework that incorporates certain reform measures developed by the Basel Committee in 2010–11 with an idea to supervise Banking sector in terms of improving risk management, strengthening the transparency of banking system and building capabilities to digest shocks appeared from financial and economic stress. The Basel Process refers to the way in which the BIS promotes international cooperation among monetary authorities and financial supervisory officials. Established in 1930, the BIS is owned by 62 central banks, representing countries from around the world that together account for about 95% of world GDP. Its head office is in Basel, Switzerland.

‘Basel III Accord’ or simply ‘Basel III’, often seen in the news, seeks to:

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