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.

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,

Kotak Mahindra Bank’s share price rose 2.25% to an intra-day high of Rs 1,987.70 after the Reserve Bank of India lifted restrictions on the private lender, enabling it to onboard new customers via online channels.

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.

The RBI had imposed restrictions on Kotak Mahindra Bank due to concerns over its IT management. It noted that the bank had consistently failed to address "serious deficiencies and non-compliances"

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.

Kotak Mahindra Bank's shares rose after the RBI lifted restrictions on issuing new credit cards and opening accounts through online or mobile banking. Banks, including HSBC, JP Morgan, Morgan Stanley,

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

Kotak Mahindra Bank share price today. The stock was up 10 per cent at Rs 2,137.60 on BSE in the pre-open trade, The resumption of digital onboarding of customers may aid in acquisition of savings accounts and cross-sell of products.

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.

Kotak Mahindra Bank share price rose over 2% to touch a 52-week high on Thursday's session following the Reserve Bank of India's (RBI) removal of restrictions on its digital banking activities. Almost 10 months after the restrictions were implemented,