The Reserve Bank on February 12, 2025 decided to lift the aforementioned restrictions placed on Kotak Mahindra Bank Limited. Now customers can apply for new Kotak Mahindra 811 Bank Account through its online and mobile banking channels,

RBI had asked place restrictions in April last year after finding deficiencies and non-compliances in Kotak Mahindra Bank’s IT inventory management and data security, among other issues

RBI lifts restrictions on Kotak Mahindra Bank, allowing credit card issuance and digital customer onboarding, signaling regulatory shift.

The Reserve Bank of India has lifted restrictions on Kotak Mahindra Bank, allowing it to onboard new customers via online and mobile channels and issue new credit cards. These restrictions were in place due to IT-related deficiencies.

Mumbai: The Reserve Bank of India (RBI) on Wednesday lifted the restrictions on Kotak Mahindra Bank, allowing it to issue new credit cards and onboard new customers through its website and mobile app,

Kotak reported a 10% surge in its profit levels at Rs 4,701.02 crore in Q3FY25 as compared to Rs 4,264.78 crore recorded in the corresponding quarter of the previous year. The recent removal of restrictions has further boosted brokerages' outlook on the stock.

The Reserve Bank of India said on Wednesday that it had lifted its 10-month-old order barring Kotak Mahindra Bank from onboarding new clients digitally and issuing fresh credit cards due to gaps in its IT infrastructure.

The Reserve Bank has lifted all restrictions it placed on Kotak Mahindra Bank. On April 24 last year, the RBI imposed certain business restrictions on the private lender. The bank was directed to cease and desist from onboarding new customers through its online and mobile banking channels,