The Northeast Banking Conclave was organized by Ministry of Development for the North Eastern Region, North Eastern Development Finance Corporation (NEDFi) and State Bank of India with Confederation of Indian Industry in New Delhi on Friday.

The central government has appointed Debadatta Chand as the Managing Director & Chief Executive Officer of the Bank of Baroda for a period of three years, as per a Finance Ministry notification. Meanwhile, Rajneesh Karnatak will take the reins of the Bank of India.

"We have seen consolidation in telecom, airlines to some extant, steel and cement,” he said. “We need our banks to be able to finance large acquisition for companies. “If Mr (Sajjan) Jindal wants to make a large acquisition why cannot domestic banks underwrite the risk? Yes we have to be careful and avoid accidents on the road but we should also allow cars to travel faster."

Across most of Asia, muted big-ticket consumer expenditure — such as on housing — and restrained capital expenditure by firms have led to only a mild post-pandemic recovery in credit, which makes India’s double-digit loan growth a notable exception, according to economists at Australia & New Zealand Banking Group Ltd.

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.