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India Business News: The Reserve Bank of India (RBI) recently imposed restrictions on Kotak Mahindra Bank, preventing the bank from onboarding new customers through its online and mobile banking channels and from issuing new credit cards. This has raised questions among existing and potential customers about the impact of this decision on their accounts and services.

Business restrictions globally are used in extreme cases of malfeasance, fraud or questionable conduct of the entity. The RBI’s actions on Kotak Mahindra Bank may seem harsh in light of global practices.

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