"Basel-II norms will stay and not be discarded. It is a reinforcement of the existing Basel-II accords," R N Kar, regional director (east) of RBI said at a seminar here.
Kar said that the global financial crisis of 2008 had exposed the failures of Basel-II norms after which the international community started looking for more stringent standards.
The Basel-II norms, which took care of the capital, market and operational risks, had been made more sophisticated by integrating the need for greater liquidity and decreasing leverage.
The Basel-III norms would also have provisions for counter-cyclical buffers.