Setback For Kotak Mahindra Bank, RBI Bars It From Onboarding Customers Online, Issuing Credit Cards
Taking strong action over repeated non-compliance with IT norms, the Reserve Bank of India today barred Kotak Mahindra Bank Limited from onboarding new customers through online/mobile banking methods and also from issuing new credit cards with immediate effect. The RBI said it took the action under Section 35A of the Banking Regulation Act, 1949. The […]