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Removal of Supervisory Restrictions: Kotak Mahindra Bank Limited

News Financial services English General Updates
Date: 12th Feb, 2025 Source: Reserve Bank of India Country: India Original Source

Brief

The Reserve Bank of India (RBI) has lifted the supervisory restrictions imposed on Kotak Mahindra Bank Limited on April 24, 2024, under Section 35A of the Banking Regulation Act, 1949. The restrictions had barred the bank from onboarding new customers via online and mobile banking and issuing new credit cards. After implementing remedial measures and an external audit, the bank has complied with RBI’s concerns, leading to the removal of these restrictions.

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Reserve Bank of India

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