DMPQ: What is Basel accord? What are the different BASEL norms? ( economy)

The set of the agreement by the BCBS (BASEL COMMITTEE ON BANKING SUPERVISION), which mainly focuses on risks to banks and the financial system are called Basel accord.  The purpose of the accord is to ensure that financial institutions have enough capital on account to meet the obligations and absorb unexpected losses.  India has accepted Basel accords for the banking system. BASEL ACCORD has given us three BASEL NORMS which are BASEL 1,2 and 3.