2024-04-25 | Industry Dynamics
Kotak Mahindra Bank Barred from Digital Expansion
Today’s News India’s central bank has taken stringent action against Kotak Mahindra Bank, prohibiting the institution from issuing credit cards and onboarding new digital and mobile banking customers. This move signals a significant escalation in regulatory enforcement within India’s consumer finance sector. The Reserve Bank of India (RBI) cited “serious deficiencies” in IT risk management […]