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Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally

IndiaTimes Thursday, 25 April 2024 ()
Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered target prices as the bank's online customer acquisition is affected.
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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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