RBI asks Kotak Mahindra Bank to stop issuing fresh credit cards, onboarding fresh customers via mobile ban
Posted on: 24 Apr, 09:16 PM
The Reserve Bank of India (RBI) directed Kotak Mahindra Bank to halt new credit card issuance and customer onboarding via online and mobile banking due to identified operational deficiencies. This move, aimed at safeguarding customer interests, is part of RBI's regulatory measures concerning compliance and risk management issues at the bank.