The Reserve Bank adopted a gradual approach to Basel II implementation to allow for a smooth transition and enable banking institutions to build the requisite capacity to operate in a Basel II environment. The Reserve Bank laid the foundation for Basel II Implementation through the rolling out of Risk Based Supervision (RBS) and issuance of a number of Prudential Guidelines focusing on specific aspects of Pillars I to III.

Download the report here Implementation Roadmap on Page 23 of the July 2011 Monetary Policy Statement