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  2. www.ndtv.com › business-news › explained-why-rbiExplained: Why RBI Stopped Kotak Mahindra Bank From ...

    Apr 25, 2024 · Explained: Why RBI Stopped Kotak Mahindra Bank From Onboarding New Customers Online. The RBI has citeddata security concerns and deficient IT infrastructure at the Kotak Mahindra Bank....

  3. indianexpress.com › article › explainedWhy has RBI barred Kotak Mahindra Bank from onboarding new ...

    Apr 24, 2024 · The Reserve Bank of India (RBI) on Wednesday (April 24) asked Kotak Mahindra Bank to stop onboarding new customers through online and mobile banking channels, and also barred it from issuing fresh credit cards, with immediate effect. As of March-end, Kotak Mahindra Bank has issued 59.54 lakh credit cards.

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  5. economictimes.indiatimes.com › wealth › personalKotak Mahindra Bank penalised by RBI: What happened on April ...

    Apr 24, 2024 · The Reserve Bank of India (RBI) took action against Kotak Mahindra Bank, barring it from onboarding new customers through online and mobile banking channels. The regulator also directed the bank to stop issuing new credit cards. This action stems from concerns identified by the RBI.

  6. timesofindia.indiatimes.com › business › indiaRBI restrictions on Kotak Mahindra Bank: What it means for ...

    Apr 26, 2024 · RBI imposed strict measures on Kotak because of unaddressed supervisory concerns found in the regulator's IT examination for the fiscal years 2022-2023, and because of frequent tech outages, the latest being on April 15, 2024.

  7. www.rbi.org.in › Scripts › BS_PressReleaseDisplayReserve Bank of India - Press Releases

    Apr 24, 2024 · The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing ...

  8. www.deccanherald.com › business › companiesExplained | Why RBI barred Kotak Mahindra Bank from ...

    Apr 25, 2024 · The Reserve Bank of India (RBI) on Wednesday asked Kotak Mahindra Bank to stop onboarding new customers through online and mobile banking channels, and also barred it from...

  9. www.moneycontrol.com › news › businessRBI cracks down on Kotak Mahindra Bank; bars onboarding new ...

    Apr 24, 2024 · RBI cracks down on Kotak Mahindra Bank; bars onboarding new customers through online, mobile banking and issuing new credit cards. During the investigations, the RBI found...