RBI bars Kotak Mahindra Bank from onboarding fresh customers via online, mobile banking; asks it to stop issuing fresh credit cards

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.