RBI bans Kotak Mahindra Bank from adding new customers through online banking, issuing credit cards
by Scroll.in
Scroll.in— The central bank said it had found deficiencies in the private bank’s information technology system.
Bloomberg—Kotak Barred from Adding Online Clients, Issuing Credit Cards. Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.
Times of India—Kotak Mahindra Bank shares plunge 10% after RBI bars onboarding customers digitally. Kotak Mahindra Bank share price today: The Reserve Bank of India's (RBI) decision to temporarily halt Kotak Mahindra Bank's onboarding of new customers through online and mobile banking channels, as well as the issuance of new credit cards, has led to a significant drop in the bank's share price. The stock fell by up to 10% to Rs 1,659 on the Bombay Stock Exchange (BSE) on Thursday as investors reacted negatively to the news.At 9:43 AM, shares of Kotak Mahindra Bank were trading at Rs 1,658.25,...
MediaNama—ICICI bank’s mobile app accidentally revealed credit card details of 17k customers. The data leakage comes on the same day as the Reserve Bank of India (RBI) restricted Kotak Mahindra Bank from onboarding customers over online/mobile channels due to its failure to address IT risk management issues.