This study tries to present a condensed yet comprehensive version of the Basel Norms on banking supervision. One gets a feel of the vastness of the Basel guidelines and the various risk measurement approaches they prescribe. In India the true essence of the Basel norms are yet to be exploited. Due to various constraints, the process of Basel implementation is kept at an oversimplified level. But there are enormous possibilities of more efficient functioning, financial innovations, and higher profitability of the Indian banking sector by managing and measuring the inevitable uncertainties in a scientific manner in the lines of sophisticated techniques of Basel norms. So, this research could act as a handbook and reference material to the students and teachers of banking risk management, the researchers in different academic and financial institutions, and of course the bankers to have a clear idea of Basel norms, their worldwide implementation picture and the Indian scenario, starting from Basel 1 to Basel 3. Needless to mention, being an original research work, this is unique by nature.