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Reserve Bank lifts curbs on Kotak Bank as lender takes measures to address issues
The New Indian Express Kollam
|February 13, 2025
The Reserve Bank on Wednesday lifted the curbs imposed on the fourth-largest private sector lender Kotak Mahindra Bank after 10 months for failing to improve its IT infrastructure despite repeated warnings for nearly two years.
On April 24, 2024, the Reserve Bank had imposed certain business restrictions on Kotak Bank and ordered it to cease and desist from onboarding new customers through its online and mobile banking channels, and issuing fresh credit cards. It was also asked to appoint an external auditor to check the health of its IT infra.
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