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Why business curbs are new weapon in RBI armoury

MUMBAI: For big banks, a penalty slapped by RBI for violations had as much impact as a traffic violation fine for a BMW owner.

Baroda , Gujarat , India , Mumbai , Maharashtra , Kotak-mahindra , Suresh-ganapathy , Diners-club , Paytm-payments-bank , Mastercard , Bajaj-auto , Kotak-bank-or

RBI bars Kotak Bank from online onboarding of customers, issuing fresh credit cards

The RBI said its decision was based on significant concerns arising out of its IT examination of the bank for 2022 and 2023, and the bank’s continued failure to address these concerns in a comprehensive and timely manner.

Baroda , Gujarat , India , Core-banking-system , Banking-regulation-act , Rbi , Bi-bars-kotak-bank , Otak-bank , Eserve-bank-of-india , Otak-mahindra-bank , Ndian-express-business

Kotak Mahindra Bank: RBI bars Kotak Bank from adding customers digitally

The Reserve Bank of India (RBI) has imposed strict restrictions on Kotak Mahindra Bank, a third-most valued private bank in India, for failing to fix its IT systems over the past two years. The bank was asked to stop functions cited "with immediate effect" and assured customers that there would be no interruption to services. Kotak Mahindra Bank has taken measures to strengthen its IT systems and will continue to work with the RBI to resolve balance issues at the earliest.

India , Baroda , Gujarat , Ashok-vaswani , Dipak-gupta , Jay-kotak , Uday-kotak , Bars-kotak-bank , Kotak-mahindra-bank , Customers-digitally-et-bureau , Paytm-payments-bank , Reserve-bank

Kotak must act fast to escape RBI's cyber-risk clamps

RBI has barred Kotak Mahindra Bank from issuing new credit cards and enlisting new customers through its website and app because of tech compliance failures. The private lender should get its house in order quickly.

Kotak-mahindra-bank , Kotak-bank , It-regulation , Rbi , Compliance , Reputation , Customer-safety ,

Reserve Bank of India Alert on Illegal Entities

The Reserve Bank of India (RBI) on Wednesday issued an alert against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of exorbitant returns.

Mumbai , Maharashtra , India , Reserve-bank , Rbi , Unauthorised-entities , Foreign-exchange ,

Taking a loan? This small paper can save you big

Borrowers are baffled and confused when signing loan documents. These documents have critical clauses scattered all across. The terms, too, are written unclearly. Now RBI has introduced a significant change in how these documents will be written.

Mumbai , Maharashtra , India , Apurva-palande , Loan , Rbi , Kfs , Loan-papers , Bajaj-finance ,

Kotak Mahindra Bank share price: Kotak Bank to face timewise derating; may underperform for 12-18 months: Digant Haria

Digant Haria of GreenEdge Wealth discusses impact of RBI diktat on Kotak Bank, foreseeing continued underperformance and a potential shift in the banking sector towards PSU banks. Haria says: "I do not think Kotak will be the last bank to face these actions. This action can come on more banks and NBFCs in the coming months. I do not think this is the end of the regulator being not so gentle on them."

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Kotak Mahindra Bank cannot add new customers as per RBI order: Is your money in the bank safe?

Kotak Mahindra Bank: RBI's order means that Kotak Mahindra Bank cannot onboard new customers or issue fresh credit cards. What changes for existing customers?

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Sanjiv Bhasin | Sanjiv Bhasin stocks: Use dip to do a SIP in Kotak Bank as RBI won't have a major impact on earnings: Sanjiv Bhasin

Sanjiv Bhasin discusses Kotak Bank's resilience, Bajaj Finance's challenges, and the impact of competition on their performance. Future guidance and return on equity will be crucial indicators to watch in the evolving market dynamics. Bhasin says: "RBI move overall, may not have a major impact on the earnings or the long-term visibility."

Sanjiv-bhasin , Offering-college , Kotak-bank , Bank-nifty , Reserve-bank , Leadership-excellence , Sanjiv-bhasin-stocks , Hdfc-bank , Bajaj-finance , Rbi , Long-term-investor , Iifl-securities

Action on Kotak Mahindra Bank signals RBI's intent to address systemic gaps in banking, say experts

On April 24, the Reserve Bank of India (RBI) imposed business restrictions on Kotak Mahindra Bank (KMB) barring the lender from adding new customers through digital channels and issuing new credit cards. Experts expect this to impact their earnings.

India , Sanjay-agarwal , Shreyansh-shah , Karan-gupta , Kotak-mahindra , Emkay-global-financial-services , India-ratings-research , Bank-it-examination , Kotak-mahindra-bank , Research-analyst , Reserve-bank , India-ratings