The recent stress tests have revealed that the Indian banks are efficient and will be able to maintain capital adequacy above minimum requirement even in situation of severe distress. The RBI has put in place various frameworks to monitor the banks and has also deployed macroprudential measures to assess system level buildup of risks, highlighted Das in his speech.

"We hereby inform that based on the recommendation of the Board of Directors of the Bank, the Reserve Bank of India...has given its approval for the re-appointment of Dr N Kamakodi as the Managing Director and CEO of the bank for a further period of three years with effect from May 1, 2023," the bank said in a BSE filing on Wednesday.

PVSLN Murty, Chairman and Managing Director, NEDFi stated that North East Bankers' Conclave is the first of a kind leadership event specifically organized to brainstorm the challenges of banking sectors of North East and come up with actionable strategies to address the same at various level starting from policy planning up to grass root level implementation.

Banks are also in discussion with the regulator to further strengthen the central KYC format to avoid multiple accounts in the banking system with different identifications.

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Uday Kotak, the man behind India's third-largest private bank, Kotak Mahindra Bank, will step down as CEO and MD at the end of this year due to RBI tenure cap. Kotak Mahindra Bank is actively looking for his replacement to fill his shoes, which seems difficult as he is an institution by himself. Kotak started his journey with a small bill-discounting business, which later became one of India's largest banks. He made banking look cool and positioned it more as an FMCG one.

Days after the US saw its second and third largest banking failures, where the authorities had to step in to rescue the banks and depositors' money, Swiss banking giant Credit Suisse got into an excruciating financial crisis. Banks face interest rate risk when the country's policy rates increase rapidly in a short span of time. This spelled trouble for the banks. However, find out why India's banking system has considerably less chances to face such incidents.

The Reserve Bank has imposed penalties totalling Rs 44 lakh on four cooperative banks, including a Rs 16 lakh penalty on Chennai-based The Tamil Nadu State Apex Co-operative Bank, for contravention of various norms.