RBI bars Kotak Mahindra Bank from onboarding fresh customers via online, mobile banking; asks it to stop issuing fresh credit cards
Wednesday, 24 April 2024 () The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to halt the issuance of new credit cards and onboarding of customers through online and mobile banking channels. This directive comes as a result of regulatory actions concerning compliance and risk management at the bank. Existing customers, including credit card holders, will not face service disruptions.
RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken against HDFC Bank in 2020. The events underscore the need for stronger regulatory...
The move to a cashless society is coming faster than we imagined, customers at western banks report being told they can't take cash out of their banks. The IMF warns a banking collapse and..
Chief Cashier of the Bank of England Sarah John has welcomed the new bank notes featuring a portrait of His Majesty The King. The King welcomed Mrs John and Governor of the Bank of England Andrew..
Amazon Is Getting Rid of , Just Walk Out Technology , at Its Fresh Grocery Stores.
The company's Just Walk Out
technology allows customers to
avoid standing in checkout lines.
It works by sending..
Credit: Wibbitz Top Stories Duration: 01:31Published
Wednesday, 24 April 2024 ()
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