India’s central bank cracks down on Kotak Mahindra Bank over IT, risk management lapses

TechCrunch
By Manish SinghApr 24, 2024, 7:09 am112 pts
India’s central bank ordered Kotak Mahindra Bank to immediately cease onboarding new customers through its online and mobile banking channels and to stop issuing fresh credit cards, citing serious deficiencies in the bank’s IT systems and risk management practices. Kotak Mahindra Bank is one of the largest…

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