Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally

Credit: IndiaTimes- Published on April 25, 2024
Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered target prices as the bank's online customer acquisition is affected.

Video credit: Oneindia
Published on April 25, 2024 -  05:03
Kotak Mahindra Bank Faces RBI Ban on Online Customer Acquisition, Credit Cards| Oneindia News
RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken against HDFC Bank in 2020. The events underscore the need for stronger regulatory mechanisms. #kotakmahindrabankopenaccountzerobalance #kotakmahindrabank #kotakmahindrabanknews #kotakmahindrabankcreditcard #kotakmahindrabankcreditcardapply #kotakmahindrabankpersonalloan #RBI #RBInews #Moneynews #Oneinda #Oneindia news ~HT.178~PR.152~ED.194~GR.125~CA.145~

You are here

Related news from verified sources

RBI's restrictions on Kotak Mahindra Bank impact new customer onboarding and credit card issuance, with uncertainties for existing customers. The ban's duration...
on April 26, 2024 • IndiaTimes

You might like