With which international standard do the RBI's Market Risk Directions 2026 align?

The RBI has issued the 'Market Risk—Minimum Capital Requirements Directions, 2026' for commercial banks; these align with the revised Basel III standards and will come into effect on April 1, 2027. Emphasis has been placed on strengthening the banking system's risk management capabilities by introducing changes to the capital treatment of the trading book, foreign exchange and interest rate risks, net open positions, debt mutual funds, ETFs, credit derivatives, and TRS.