RBI lifts restrictions on Kotak Mahindra Bank

Welcoming the move to lift restrictions, the bank spokesperson said that the Kotak will work with the RBI to shortly resume digital onboarding of new customers and issuing fresh credit cards. Kotak Mahindra Bank’s managing director, Ashok Vaswani had indicated to media soon after declaring December quarter results that the RBI’s restrictions had cost the bank around ?450 crore annually.

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