RBI bans Kotak Mahindra Bank from onboarding new customers
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The Reserve Bank of India (RBI) has imposed restrictions on Kotak Mahindra Bank (KMB), barring it from acquiring new customers through its digital platforms and issuing new credit cards. The decision, announced today, was driven by supervisory concerns. Despite the constraints, the RBI confirmed that KMB can continue to serve its existing customers, including credit card holders.