What happened to Kotak Mahindra Bank? RBI orders it to stop issuing credit cards and onboarding new online customers: Here is what it means
In yet another strong regulatory action, the Reserve Bank of India (RBI) on Wednesday directed private sector bank Kotak Mahindra Bank to cease and desist from onboarding of new customers through its online and mobile banking channels with immediate effect. Additionally, the RBI also ordered the bank to stop issuing any fresh credit card. However, the RBI … Read more