the implementation of Basel III norms, there are logical points of view that higher capital requirements lead to (i) a healthier financial system through a reduced risk of bank failure, (ii) lower systemic risk, and (iii) lower social costs as a result of the elimination of the moral hazard. On the other hand, the counterarguments highlight that higher capital requirements will escalate the costs of financing for banks as equity financing is more expensive than debt financing, leading to (i) a slowdown in credit growth and the potential detrimental effects on the economies concerned, and (ii) a decrease in profitability, preventing the future accumulation of capital via retained earnings and ruling out future expansion of banks? operations. To meet the higher capital requirements, one of the approaches the banks can adopt is to increase their retained earnings by raising their average lending rates, besides keeping their dividends unchanged. However, the overall objective of Basel III norms is to strengthen the global capital, liquidity, and risk assessment rules and enhance the resilience of the banking sector.

The first paper, ?The Impact of Basel III Norms on Indian Public Sector Banks: A Review of Empirical Studies?, offers a critical literature review for a comprehensive understanding of the different dimensions of the topic. The authors, Krishan K Boora and Savita, state that the profitability of Public Sector Banks (PSBs) is negatively impacted by the Basel III norms implementation. They opine that financially strong banks can easily adopt the new Basel Accord, and the financially weak banks face problems in smoothly implementing the Basel III norms. The authors state that most of the Indian PSBs have achieved an RBI prescribed capital adequacy ratio of more than 11.5%, and only a few banks are near to 11%. The profitability of PSBs is declining due to a negative return on assets and return on equity. Banks are also facing the problem of higher risk-weighted assets. The authors observe that the government is consolidating PSBs and reducing its shareholdings in PSBs.

The ?quality of governance?, notwithstanding the regulations, in banking institutions plays an important role in their stability and financial soundness. Although the importance of governance in banks is well-documented, the questions as to what constitutes governance and how to best identify the parameters which can be used as measures of ?quality of governance? require a thorough investigation. In the second paper, ?An Empirical Analysis of Key Governance Indicators of Scheduled Urban Cooperative Banks in India?, the authors, Ashish Srivastava and Nitu Saxena, investigate the key governance indicators of scheduled Urban Cooperative Banks (UCBs) in India as there have been concerns about the quality of their governance in these institutions. The authors argue that a sound governance structure signifies the trust of depositors in the bank?s ability to safely keep their funds and honor its commitments and liabilities. The study shows that all the three components of governance in UCBs?democratic structure, professional management, and control systems?constitute the quality and effectiveness of overall governance. A well-timed red-flagging of governance deficiencies is crucial for supervisory effectiveness. The authors conclude that supervisory processes should focus on the core governance features to help in economizing on the supervisory resources and improving the effectiveness. They conclude by stating that due attention to features of governance can help in improving the corporate governance standards of UCBs and thereby strengthen cooperative banking in India.

The final paper, ?The Economic Impact of SHG-BLP on the Empowerment of Rural Women in India?, explores the impact of the Self-Help Group (SHG)-Bank Linkage Program (BLP) on women empowerment. The authors, Vanishri R Hundekar and M M Munshi, study the responses of 25 rural SHGs and 120 SHG members under the Stree Shakti Scheme of Belagavi district of Karnataka. This primary study empirically investigates the economic conditions of the members pre and post participation in SHG-BLP, and assesses the impact of the SHG-BLP on social empowerment and economic empowerment of members. The study observes that participation in the SHG-BLP program has enabled poor women to have improved access to credit facilities as SHG helps in internal lending among members. The study notices that educated rural women have shown an acute interest in participating in SHGs to save money for future use, increase their income level, and uplift their economic status in the society. The program has enabled higher psychological and social empowerment along with economic empowerment. Besides, the participation of rural women in the SHG-BLP program has brought confidence, leadership and skill development in rural areas, particularly among women.