The Reserve Bank of India (RBI) has imposed strict restrictions on Kotak Mahindra Bank, a third-most valued private bank in India, for failing to fix its IT systems over the past two years. The bank was asked to stop functions cited “with immediate effect” and assured customers that there would be no interruption to services. Kotak Mahindra Bank has taken measures to strengthen its IT systems and will continue to work with the RBI to resolve balance issues at the earliest.
IPO Calendar: Primary market momentum picks up slightly with 4 issues scheduled this week
The IPO market gains momentum with four upcoming issues. Aris Infra Solutions’ mainboard IPO opens March 20-25, aiming to raise Rs 600 crore. Three SME