Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found serious deficiencies in the lender s IT risk management.
These actions, the RBI said, are necessitated based on significant concerns arising out of Reserve Bank s IT examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner.
Kotak Mahindra Bank Faces RBI Action: Online Customer Acquisition and Credit Card Issuance Suspended devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
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