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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.

Kotak's share of digital sourcing stood at 95 per cent for new personal loans (volumes), 99 per cent for new credit cards (count) 79 per cent for new business loans disbursed by volume and 90 per cent for new investment accounts opened.

The Reserve Bank of India (RBI) barred Kotak Mahindra Bank from onboarding new customers through online and mobile banking channels. The regulator also put restrictions on the private sector bank on issuing new credit cards. Should the customers of Kotak 811 worry about their accounts? Can Kotak Mahindra Bank customers renew their credit cards now? ET Wealth Online explains.

The US startup ecosystem saw the announcement of a total of 1,137 venture capital (VC) funding deals worth $24.2 billion during the first quarter (Q1) of 2024.

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