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

IndiaTimes Friday, 26 April 2024
RBI's restrictions on Kotak Mahindra Bank impact new customer onboarding and credit card issuance, with uncertainties for existing customers. The ban's duration depends on an external audit and corrective measures satisfaction, potentially lasting six to twelve months.
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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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