India’s Subbarao demands ‘radical change’ in banks’ risk management

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India's banks must undergo a "radical change" in risk management, according to the governor of the Reserve Bank of India, Duvvuri Subbarao, in a speech made on September 4.

Speaking at an Indian Banking Association conference in Mumbai, Subbarao said it was important for larger banks to migrate to the advanced approaches to risk management set out in Basel II, especially when expanding overseas operations.

He said progressing from the current standardised approaches will enable banks to manage

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