New Delhi: Reserve Bank of India (RBI) on Wednesday directed Kotak Mahindra Bank Limited to stop and desist, with instant impact, from onboarding new clients by way of its online and cell banking channels and issuing fresh credit cards.
These actions are necessitated primarily based on vital considerations arising out of the Reserve Bank’s IT Examination of the financial institution for the years 2022 and 2023 and the continued failure on the a part of the financial institution to handle these considerations in a complete and well timed method.
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