RBI extends deadline on capital norms under Basel III to March 31, 2019

MUMBAI (Reuters) - The Reserve Bank of India (RBI) extended the deadline for banks to implement Basel III capital planning rules by a year to March 31, 2019, due to concerns from the industry on potential stress to asset quality, the central bank said on Thursday.

"Of late, industry-wide concerns have been expressed about the potential stresses on the asset quality and consequential impact on the performance/profitability of the banks," the RBI said.

(Reporting by Neha Dasgupta; Editing by Sunil Nair)