RBI Removes Restrictions on Kotak Mahindra Bank – Full Update

RBI Lifts Restrictions on Kotak Mahindra Bank

[{"selector":"#anim-169061f5-bdf9-4b7a-a33b-07df217809bb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a262fc18-b203-47cb-a4aa-8393453933b7","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-63e6e870-1395-4c30-9d2f-001d90ea14d9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b95fe46e-022d-4d27-b74b-a52dcfde5de6","keyframes":{"transform":["translate3d(0px, 311.28468%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

The Reserve Bank of India (RBI) had placed restrictions on Kotak Mahindra Bank regarding certain services.

[{"selector":"#anim-df9b0f5a-cc0a-4c72-b3c0-87834c0b186b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b02e7771-4d86-4358-b42f-eb46fed17f7e","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5640e5f6-5d88-4b03-876f-00d4b5a097c2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8a29aaa-537d-4d09-b076-f590e170bdc5","keyframes":{"transform":["translate3d(0px, 197.3795%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

The restrictions were mainly related to new customer onboarding via digital platforms and some operations.

[{"selector":"#anim-d00d81de-2282-405d-abe1-7fafa387ead0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0125a37b-e099-4cab-8f79-1ecb7f843e86","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7edad72-f5da-4987-92ea-3fd627903a30","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aafe2416-aa2e-4d45-a3aa-f799d11b1f42","keyframes":{"transform":["translate3d(0px, 192.02021%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

RBI had concerns over IT system deficiencies and cybersecurity compliance at Kotak Mahindra Bank.

[{"selector":"#anim-cb7d349d-c577-4c36-934b-bd4eb8ed76b5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3cc71ecf-8ab2-4959-94dc-87b0844b1b7c","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1a31d2ec-185e-4dfb-b645-7c004286e746","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2af6240e-4f6b-4241-a988-c6a10f5b053f","keyframes":{"transform":["translate3d(0px, 199.25928%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

New customer onboarding was temporarily paused, affecting digital account openings.

[{"selector":"#anim-16448e83-c650-416c-90f9-3c243abb9ae3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ccd7c2a6-9ec5-4399-ab0c-e4c25b89f5bf","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7cd93cc3-667e-4dca-b7d2-af4c4b2d970c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-94328c92-7935-4a94-91e8-00983eeb707b","keyframes":{"transform":["translate3d(0px, 219.80677%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

Kotak Mahindra Bank assured RBI that it would work on rectifying the issues.

[{"selector":"#anim-229f6bba-7aa2-44d2-882a-7d64fc34e577","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-102f0858-7ca8-4e33-a0ec-2c62670cffce","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-16451f1b-9854-4c0a-abad-23c78bdd7ce1","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f4ae116e-9bb4-4ed0-844a-c9cff7a9488b","keyframes":{"transform":["translate3d(0px, 230.58684%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

Strengthened IT infrastructure, improved cybersecurity measures, and ensured compliance.

[{"selector":"#anim-312a4228-809e-4d18-a82d-0749a5ecb2e3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e185eeab-ba17-45d3-8be6-5ef5f149e537","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3dc105a6-5391-4a34-9c4a-38f96cabc36f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a03b34a2-e928-48e6-b3b1-effb37b936ad","keyframes":{"transform":["translate3d(0px, 239.02787%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

RBI closely monitored the bank’s corrective actions over the past few months.

[{"selector":"#anim-ce435101-ba38-4ecc-86e0-601fcec2972f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bdd26a43-7acc-4f69-ae16-3e57ce39af0c","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e611bb10-d98e-4bf9-bada-fa24c54d85e8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e187d06-7964-4d47-88d1-bf58cba570ec","keyframes":{"transform":["translate3d(0px, 211.93851%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

RBI officially announced the lifting of restrictions after successful compliance.

[{"selector":"#anim-612976fc-8aaa-4843-94d2-39075dbd2211","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-78d97029-f305-45a4-95d1-8b28dd796382","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b7a355fd-bdb7-4bc2-b56a-7d702e36a087","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e5ed6e1b-6385-4b2d-a121-94deb0db119f","keyframes":{"transform":["translate3d(0px, 234.37904%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

We are pleased with RBI’s decision and remain committed to digital excellence

[{"selector":"#anim-f3848ff5-c827-4b6c-9147-85c5fd721162","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-684fb530-6395-417f-99ff-fbcfc798b30b","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-90f51c1d-8e52-457e-8836-a3e24e8f8770","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-08e1dad8-896e-463d-94b7-ec6b9c9d5d11","keyframes":{"transform":["translate3d(0px, 236.30491%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

Kotak Mahindra Bank’s shares saw positive movement after the announcement.

[{"selector":"#anim-0eab6c13-6c4c-4606-939b-b4f05fa4c6ae","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-00066c2b-ad35-43f5-9b37-b59b29e66b9d","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-649c10fe-af21-4b30-975f-1681c918be29","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b00e3e71-91b8-4866-a182-d425db55d560","keyframes":{"transform":["translate3d(0px, 237.9084%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

New customers can now open accounts and access digital banking services seamlessly.

[{"selector":"#anim-48e06056-6e04-49a8-b7f3-9ec5d244d64b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cc472166-2be8-479a-950e-43e26e0af2ab","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-564af87f-9828-451a-b990-6888ca3060d8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bb1c8e72-53ae-474e-b53e-f309c0e42bd8","keyframes":{"transform":["translate3d(0px, 191.94701%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

RBI emphasizes strong IT and cybersecurity compliance for all banks.

[{"selector":"#anim-942fd80d-5b93-4196-8acb-95763a09607a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c792e626-1dec-4001-9d35-12333ad3dbf0","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bf194b2d-7287-4ca7-a2a8-5b9525909af9","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c753e436-4fb2-47f8-bf37-57bbe0483206","keyframes":{"transform":["translate3d(0px, 235.55549%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

The bank aims to enhance digital services and expand its reach.

[{"selector":"#anim-d09b11c6-4168-41fb-8985-42e5bd61a998","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2a9af518-631c-48d2-96ba-746eba391d75","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3552ab40-5527-42b8-9c7d-912c17d35423","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ad73a436-76d2-4d56-bd83-11f76c3fc6c3","keyframes":{"transform":["translate3d(0px, 235.55549%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box

Stay updated with the latest banking news. Follow for more updates!

[{"selector":"#anim-a0d03181-1120-4cdc-94e3-e1bc1f84c80d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b968925-e60f-45e0-971d-ce2f408f17b3","keyframes":{"transform":["translate3d(0px, 132.32894%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ecabe882-9ba8-4f8c-82c7-56c39b5d0f19","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-13b2fda7-8bae-4841-a738-30a263154d49","keyframes":{"transform":["translate3d(0px, 215.69306%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Chat Box Learn more