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

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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Video Credit: Oneindia - Published on April 25, 2024

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...

RBI restrictions on Kotak Mahindra Bank: What it means for customer, banking and credit card services - FAQs answered

RBI's restrictions on Kotak Mahindra Bank impact new customer onboarding and credit card issuance, with uncertainties for existing customers. The ban's duration...
IndiaTimes on April 26, 2024

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

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

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RBI restrictions on Kotak Mahindra Bank: What it means for customer, banking and credit card services - FAQs answered