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Setback For Kotak Mahindra Bank, RBI Bars It From Onboarding Customers Online, Issuing Credit Cards

Zee News Wednesday, 24 April 2024 ()
The RBI said it took the action under Section 35A of the Banking Regulation Act, 1949.
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News video: Kotak Mahindra Bank Faces RBI Ban on Online Customer Acquisition, Credit Cards| Oneindia News

Kotak Mahindra Bank Faces RBI Ban on Online Customer Acquisition, Credit Cards| Oneindia News 05:03

 RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken against HDFC Bank in 2020. The events underscore the need for stronger regulatory...

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