Kotak Barred from Adding Online Clients, Issuing Credit Cards

Apr 24, 2024 Kotak Barred from Adding Online Clients, Issuing Credit Cards Bloomberg News, (Bloomberg) -- Kotak Mahindra Bank Ltd., India’s fourth-largest lender by market value, has been barred from adding new customers through its digital channels and from issuing fresh credit cards after the regulator flagged governance and risk issues about its technology systems. The Reserve Bank of India found deficiencies and non-compliance in various processes over two years — from a lack of data security and leak prevention …