India's central bank on Wednesday lifted restrictions on Kotak Mahindra Bank that had barred the lender from taking on new customers via its online and mobile banking channels and from issuing new credit cards.

Reserve Bank of India has removed restrictions on Kotak Mahindra Bank, enabling the bank to restart its credit card offerings and onboard new customers via digital platforms.

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,

After almost a year, the central bank has finally given the green light for the private bank to onboard new customers again

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,

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

After more than nine months of imposing severe business restrictions on Kotak Mahindra Bank because of concerns on the technology front, the Reserve Bank of India (RBI) on Wednesday announced lifting of the “cease and desist” order.

India's central bank on Wednesday lifted restrictions on Kotak Mahindra Bank that had barred the lender from onboarding new customers through its online channels and issuing new credit cards.

RBI had barred the lender from onboarding new customers through its online channels and issuing new credit cards