RBI bars Kotak Mahindra Bank from onboarding new online customers, issuing fresh credit cards
Business | April 24, 2024 17:03 ISTThe RBI's action follows deficiencies in Kotak Bank's IT risk management and information security governance.
The RBI's action follows deficiencies in Kotak Bank's IT risk management and information security governance.
Uday Kotak will continue as a non-executive director of the bank, the bank said in a communication to exchanges.
Facing a controversy over its Co-founder and Managing Director Ashneer Grover, fintech platform BharatPe on Saturday said it has not terminated the services of any employee (including Grover) at this stage.
Managed and operated by IndiGo, the Rewards Programme is linked to a co-branded card wherein members can earn rewards by using such card on IndiGo and other merchants and redeem them for availing the benefits. 6E is the airline code for IndiGo.
Private sector lender Kotak Mahindra Bank on Tuesday said it will be giving a 'fitness allowance' to its employees for their health and wellness. The employees will have to share their health and fitness goals with the bank to get the monthly fitness allowance, it said in a statement.
Indusind Bank on Monday dismissed the reports about its merger with Kotak Mahindra Bank, a day after the deal street was abuzz with related speculations. In an official statement, the Indusind Bank said the rumour was "malicious, untrue and baseless".
Kotak Mahindra Bank (Kotak) on Thursday announced that it has reduced its rate on home loans by a further 10 basis points (bps) to 6.9 per cent per annum.
Private sector lender Kotak Mahindra Bank on Friday reduced its interest rate on home loans to 7 per cent, at par with market leader SBI's offering.
Equity benchmark indices closed marginally lower on Friday in line with Asian peers following a record contraction in economic data from the United States.
From Monday, daily balance of over Rs 1 lakh will earn 4 per cent interest as against the 4.50 per cent earlier, while those under that threshold will earn 3.50 per cent, the bank said.
Private sector Kotak Mahindra Bank on Wednesday said the Reserve Bank has granted its final approval for reducing promoters' stake in the bank to 26 per cent.
Around a week after the RBI restricted Punjab and Maharashtra Cooperative Bank (PMC Bank) from doing 'all business operation' for six months, HDFC Bank, Kotak Mahindra Bank, Yes Bank and IDFC customers complained about online banking transactions failed and money transfer couldn’t happen.
On a stand-alone basis, net profit grew 15 per cent to Rs 1,124 crore for the three months to March. For the full year, the city-based lender’s stand-alone profit rose 20 per cent to Rs 4,084 crore over fiscal 2017.
As part of the deal, expected to be closed over the next quarter or so, Kotak Bank will be paying Old Mutual Rs 1,292.7 crore for its 26 per cent stake in the joint venture.
Speculation was rife since early this year that a major merger or acquisition was on the cards and that the board meeting, slated for Thursday, will deal with raising the necessary capital to fund the move.
In a crackdown on bankers facilitating money launderers, the Enforcement Directorate today arrested manager of Kotak Mahindra Bank at Kasturba Gandhi Marg in the national capital in connection with Paras Mal Lodha & Rohit Tandon
The Income Tax department today conducted raids at the office of Kotak Mahindra Bank at Kasturba Gandhi Marg in the national capital today. The IT sleuths carried out the search while working on the leads
Mumbai: Six leading banks of the country are hit by a Rs. 15,000 crore foreign remittance scam. This involves some importers having deposited fake bills of entries (of imports) in banks and remittance for the
New Delhi: Private sector lender Kotak Mahindra Bank on Tuesday reported a 21.20% increase in its consolidated net profit at Rs 716.61 crore for the third quarter ended December 2014.The company reported a net profit
New Delhi: Private sector Kotak Mahindra Bank has secured its shareholders' approval for amalgamation of Bangalore-based ING Vysya Bank with itself.In November, Kotak Mahindra Bank had announced the buyout of ING Vysya Bank in an
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