Big Relief for Kotak Mahindra Bank: RBI Lifts Restrictions
RBI lifts Kotak restrictions: A big relief news has come out for Kotak Mahindra Bank. Actually, the Reserve Bank of India removed the restrictions imposed on the bank.
These restrictions were imposed due to some glitches in the bank’s digital services, so the bank was unable to issue new credit cards and add new customers online.
Let us inform you that after the lifting of the ban, Kotak Mahindra Bank will once again be able to issue new credit cards. The bank will now also be able to add new customers through its digital platform, which will further increase the reach of the bank.
Due to ban on bank
The main reason behind RBI imposing this ban on Kotak Mahindra Bank was some technical glitches in the digital services of the bank. Due to this, customers were facing a lot of problems.
What steps did the bank take?
Kotak Mahindra Bank took several steps to improve its digital services after the ban by the RBI. In which the bank updated its system to remove technical flaws and also strengthened the security.
After which, the bank submitted its report to the RBI, this report contained information about the reforms made. RBI decided to lift the ban after being satisfied with the bank’s report.
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