• About
  • Advertise
  • Privacy & Policy
  • Contact
Welcome To Live NDTV
  • Home
  • News
    • All
    • Science
    • World
    Delhi Live Update 2024

    Delhi Live Update 2024:- People of Delhi should replace Arvind Kejriwal as BJP CM Union Minister Harsh Mishra

    Farmers protest live updates 2024

    Farmers protest live updates 2024: Farmers protested for a day in March after farmers were injured in gas firing

    PROBA-3 Mission Live Update

    PROBA-3 Mission Live Update:- Congratulations! ISRO’s powerful PSLV-C59 rocket launched Proba-3 into Earth’s orbit

    Rahul Gandhi Live Update 2024

    Rahul Gandhi Live Update 2024:- Police told Rahul Gandhi to be careful, said – reaction from ideology is his duty of duty

    UPSC Teacher Ojha Sir Live Update 2024

    UPSC Teacher Ojha Sir Live Update 2024:- Will Awadh Ojha contest Delhi Assembly elections? What will be the role in AAP? Kejriwal said- Let it remain a secret

    Constitution debate live update 2024:- After a week, consensus on debate on Constitution in Parliament

    Constitution debate live update 2024:- After a week, consensus on debate on Constitution in Parliament

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Gadget
    • Mobile
    • Startup
    Kangana Ranaut at the Parliament House

    I Have To Recall…”: Kangana Ranaut Retracts Her Statement Regarding Farm Laws

    gujarat-girl-murder

    Six-year-old girl killed by principal for preventing rape; body dumped in school compound.

    smita-sabharwal

    Smita Sabharwal of IAS Gets A Lot of Backlash for Her Disability Quota Remark

    Delhi Airport Roof Collapse

    Delhi Airport Roof Collapses Of Terminal 1 Due To Heavy Rain Today, 1 Dead & 6 Injured 2024

    Patna harsh-raj Breaking news

    A college student from Patna was fatally beaten on campus. Cause: Dandiya Disagreement

    Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

    Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Sidhu Moosewala

    The face of Sidhu Moosewala’s younger brother Shubhdeep is revealed by his parents.

    rana-daggubati-recommended-samantha-for-hollywood-movie

    “Went From My Sister-In-Law To Sister” was the tone Rana Daggubati used to mock his “Childhood” friend Samantha “Ruthless” Prabhu.

    salman-khan

    New Threat For Salman Khan: “Pay ₹ 5 Crore To End Enmity With Bishnoi”

    Kangana Ranaut at the Parliament House

    I Have To Recall…”: Kangana Ranaut Retracts Her Statement Regarding Farm Laws

    influencer insha ghai kalra

    The Husband of Influencer Insha Ghaii Kalra, Ankit Kalra, Dies at 29

    Vinesh Phogat

    Case of Vinesh Phogat, Olympic Medal Winner: Why Courts Should Continue to Postpone Judgments

  • Lifestyle
    • All
    • Travel
    Big update of Railways Live 2024

    Big update of Railways Live 2024:- On Vanda Bharat Express from Kashmir to Delhi, PM Modi said…

    virat-kohli-and-gautam-gambhir

    Ricky Ponting’s “2 Hundreds In 5 Years” Remark About Virat Kohli Left Gautam Gambhir Furious

    malaika-arora-and-arjun-kapoor

    Arjun Kapoor clarifies that he is single and discusses his relationship status with Malaika Arora.

    Delhi Traffic Advisory 2024

    Delhi Traffic Advisory 2024:- Police issues guidelines ahead of half marathon. Will check routes and diversion points to avoid pollution

    salman-khan

    New Threat For Salman Khan: “Pay ₹ 5 Crore To End Enmity With Bishnoi”

    Tamil Nadu Train Accident

    Train Accident in Tamil Nadu: 12 Coaches Derail, 19 Injured, Probe Started.

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
    nirmala-sitharaman

    An X user is looking for middle-class relief. In response, Nirmala Sitharaman.

    kerala-ias-officers

    Two Kerala IAS officers were suspended for indiscipline, including Collector Bro.

    virat-kohli-and-gautam-gambhir

    Ricky Ponting’s “2 Hundreds In 5 Years” Remark About Virat Kohli Left Gautam Gambhir Furious

    Sidhu Moosewala

    The face of Sidhu Moosewala’s younger brother Shubhdeep is revealed by his parents.

    rana-daggubati-recommended-samantha-for-hollywood-movie

    “Went From My Sister-In-Law To Sister” was the tone Rana Daggubati used to mock his “Childhood” friend Samantha “Ruthless” Prabhu.

    canada-ex-minister

    Is the Khalistani Plan to Split Sikhs and Hindus? What Canada’s Former Minister Said NDTV

No Result
View All Result
  • Home
  • News
    • All
    • Science
    • World
    Delhi Live Update 2024

    Delhi Live Update 2024:- People of Delhi should replace Arvind Kejriwal as BJP CM Union Minister Harsh Mishra

    Farmers protest live updates 2024

    Farmers protest live updates 2024: Farmers protested for a day in March after farmers were injured in gas firing

    PROBA-3 Mission Live Update

    PROBA-3 Mission Live Update:- Congratulations! ISRO’s powerful PSLV-C59 rocket launched Proba-3 into Earth’s orbit

    Rahul Gandhi Live Update 2024

    Rahul Gandhi Live Update 2024:- Police told Rahul Gandhi to be careful, said – reaction from ideology is his duty of duty

    UPSC Teacher Ojha Sir Live Update 2024

    UPSC Teacher Ojha Sir Live Update 2024:- Will Awadh Ojha contest Delhi Assembly elections? What will be the role in AAP? Kejriwal said- Let it remain a secret

    Constitution debate live update 2024:- After a week, consensus on debate on Constitution in Parliament

    Constitution debate live update 2024:- After a week, consensus on debate on Constitution in Parliament

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Gadget
    • Mobile
    • Startup
    Kangana Ranaut at the Parliament House

    I Have To Recall…”: Kangana Ranaut Retracts Her Statement Regarding Farm Laws

    gujarat-girl-murder

    Six-year-old girl killed by principal for preventing rape; body dumped in school compound.

    smita-sabharwal

    Smita Sabharwal of IAS Gets A Lot of Backlash for Her Disability Quota Remark

    Delhi Airport Roof Collapse

    Delhi Airport Roof Collapses Of Terminal 1 Due To Heavy Rain Today, 1 Dead & 6 Injured 2024

    Patna harsh-raj Breaking news

    A college student from Patna was fatally beaten on campus. Cause: Dandiya Disagreement

    Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

    Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Sidhu Moosewala

    The face of Sidhu Moosewala’s younger brother Shubhdeep is revealed by his parents.

    rana-daggubati-recommended-samantha-for-hollywood-movie

    “Went From My Sister-In-Law To Sister” was the tone Rana Daggubati used to mock his “Childhood” friend Samantha “Ruthless” Prabhu.

    salman-khan

    New Threat For Salman Khan: “Pay ₹ 5 Crore To End Enmity With Bishnoi”

    Kangana Ranaut at the Parliament House

    I Have To Recall…”: Kangana Ranaut Retracts Her Statement Regarding Farm Laws

    influencer insha ghai kalra

    The Husband of Influencer Insha Ghaii Kalra, Ankit Kalra, Dies at 29

    Vinesh Phogat

    Case of Vinesh Phogat, Olympic Medal Winner: Why Courts Should Continue to Postpone Judgments

  • Lifestyle
    • All
    • Travel
    Big update of Railways Live 2024

    Big update of Railways Live 2024:- On Vanda Bharat Express from Kashmir to Delhi, PM Modi said…

    virat-kohli-and-gautam-gambhir

    Ricky Ponting’s “2 Hundreds In 5 Years” Remark About Virat Kohli Left Gautam Gambhir Furious

    malaika-arora-and-arjun-kapoor

    Arjun Kapoor clarifies that he is single and discusses his relationship status with Malaika Arora.

    Delhi Traffic Advisory 2024

    Delhi Traffic Advisory 2024:- Police issues guidelines ahead of half marathon. Will check routes and diversion points to avoid pollution

    salman-khan

    New Threat For Salman Khan: “Pay ₹ 5 Crore To End Enmity With Bishnoi”

    Tamil Nadu Train Accident

    Train Accident in Tamil Nadu: 12 Coaches Derail, 19 Injured, Probe Started.

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
    nirmala-sitharaman

    An X user is looking for middle-class relief. In response, Nirmala Sitharaman.

    kerala-ias-officers

    Two Kerala IAS officers were suspended for indiscipline, including Collector Bro.

    virat-kohli-and-gautam-gambhir

    Ricky Ponting’s “2 Hundreds In 5 Years” Remark About Virat Kohli Left Gautam Gambhir Furious

    Sidhu Moosewala

    The face of Sidhu Moosewala’s younger brother Shubhdeep is revealed by his parents.

    rana-daggubati-recommended-samantha-for-hollywood-movie

    “Went From My Sister-In-Law To Sister” was the tone Rana Daggubati used to mock his “Childhood” friend Samantha “Ruthless” Prabhu.

    canada-ex-minister

    Is the Khalistani Plan to Split Sikhs and Hindus? What Canada’s Former Minister Said NDTV

No Result
View All Result
Welcome To Live NDTV
No Result
View All Result
Home News

RBI Curbs On Kotak Mahindra Bank: No New Online Customers, Credit Cards

Kotak Mahindra Bank: No New Online Customers

livendtv.com by livendtv.com
27 April 2024
in News, Action, Business
0
RBI curbs on kotak mahindra bank Reserve Bank of India

RBI curbs on kotak mahindra bank

0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Table of Contents

Toggle
  • The RBI noted that due to the absence of a robust IT infrastructure, the bank’s digital banking channels have suffered frequent outages
  • RBI bars Kotak Mahindra Bank from onboarding new customers via online, mobile banking channels
      • The RBI said the bank was found to be deficient in its IT Risk and Information Security Governance for the years 2022 and 2023.

The RBI noted that due to the absence of a robust IT infrastructure, the bank’s digital banking channels have suffered frequent outages

rbi penalty on kotak mahindra bankReserve Bank of India
RBI penalty on Kotak Mahindra Bank

RBI curbs on Kotak Mahindra Bank- “The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (1) onboarding of new customers through its online and mobile banking channels and (II) issuing fresh credit cards. The bank shall, however, continue to provide services to its existing customers, including its credit card customers,” the central bank said in a release.

kotak Mahindra Bank
Kotak Mahindra Bank was penalty by Reserve Bank of India

Citing data security concerns and deficient IT infrastructure, the Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers online and issuing new credit cards with immediate effect. The bank can, however, continue to serve its current customers, including those holding credit cards.

The RBI said the actions are based on “significant concerns arising out of Reserve Bank’s IT Examination of the bank for the years 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner”.

https://www.ndtv.com/video/news/news/kotak-mahindra-bank-barred-by-rbi-from-onboarding-new-online-customers-778556

“During the subsequent assessments, the bank was found to be significantly non-compliant with the Corrective Action Plans issued by the Reserve Bank for the years 2022 and 2023, as the compliances submitted by the bank were found to be either inadequate, incorrect or not sustained,” it added.
It said there were “serious deficiencies” in the way Kotak Mahindra Bank manages its IT inventory and secures its data. “Serious deficiencies and non-compliances were observed in the areas of IT inventory management, patch and change management, user access management, vendor risk management, data security and data leak prevention strategy, business continuity and disaster recovery rigour and drill, etc. For two consecutive years, the bank was assessed to be deficient in its IT Risk and Information Security Governance, contrary to requirements under Regulatory guidelines,” the RBI said.
“In the absence of a robust IT infrastructure and IT Risk Management framework, the bank’s Core Banking System (CBS) and its online and digital banking channels have suffered frequent and significant outages in the last two years, the recent one being a service disruption on April 15, 2024, resulting in serious customer inconveniences. The bank is found to be materially deficient in building necessary operational resilience on account of its failure to build IT systems and controls commensurate with its growth,” it said.
The RBI noted that due to the absence of a robust IT infrastructure, the bank’s digital banking channels have suffered frequent outages and inconvenienced customers.
The central bank has said it has decided to place some curbs on the bank in the interest of the customers. “The Reserve Bank, therefore, has decided to place certain business restrictions on the bank as mentioned above, in the interest of customers and to prevent any possible prolonged outage which may seriously impact not only the bank’s ability to render efficient customer service but also the financial ecosystem of digital banking and payment systems,” the RBI said.
The curbs, the central bank said, will be review after an audit and corrective steps. “The restrictions now being imposed will be reviewed upon completion of a comprehensive external audit to be commissioned by the bank with the prior approval of RBI, and remediation of all deficiencies that may be pointed out in the external audit as well as the observations contained in the RBI Inspections, to the satisfaction of the Reserve Bank. Further, these restrictions are without prejudice to any other regulatory, supervisory or enforcement action that may be initiated against the bank by the Reserve Bank,” the RBI said.

RBI bars Kotak Mahindra Bank from onboarding new customers via online, mobile banking channels

The RBI said the bank was found to be deficient in its IT Risk and Information Security Governance for the years 2022 and 2023.

Kotak Mahindra Bank
Kotak Mahindra bank customer care international

The Reserve Bank of India (RBI) on Wednesday (April 24) directed Kotak Mahindra Bank to stop onboarding of new customers through its online and mobile banking channels and also barred it from issuing fresh credit cards, with an immediate effect.

The RBI said the bank was found to be deficient in its IT Risk and Information Security Governance for the years 2022 and 2023.

These actions were based on significant concerns arising out of the RBI’s IT examination of the bank for 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner, the RBI said in a release.

The RBI said it has decided to place certain business restrictions on the bank in the interest of customers and to prevent any possible prolonged outage which may seriously impact not only the bank’s ability to render efficient customer service but also the financial ecosystem of digital banking and payment systems.

The regulator said the bank, however, will continue to provide services to its existing customers, including its credit card customers.

Tags: #ctredit card#kotak mahindra bank#mobile banking channels#onboarding new customers via online#RBI bars Kotak Mahindra BankRBI
Previous Post

Congress Distances Itself From Sam Pitroda

Next Post

Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

livendtv.com

livendtv.com

Next Post
Indian-Origin Man Fired After Video Shows Him Getting ”Free Food” From Canada Food Banks

Indian-Origin Man Fired After Video Shows Him Getting ''Free Food'' From Canada Food Banks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
UK General Election Live Updates

UK General Election Live Updates 2024: Historic voting taking place in UK today, C party will ultimately win the election

4 July 2024
मुख्यमंत्री महिला सम्मान योजना: अब 18 साल की उम्र से अधिक हर महिला को केजरीवाल सरकार ₹1000/माह देगी। बहन बेटियों को घर के बड़े हाथ में पैसे रखते हैं। मुख्यमंत्री @ArvindKejriwal दिल्ली परिवार के बड़े के तौर पर दिल्ली की बहन बेटियों के लिए एक बहुत बड़ा कदम उठा रहे हैं।

Ladli Behna Yojana Now in Delhi :

6 May 2024
PM Modi honors “brave heroes” slain in the terrorist assault in Pulwama

PM Modi honors “brave heroes” slain in the terrorist assault in Pulwama

20 February 2024
India vs. Zimbabwe

India vs. Zimbabwe 1st T20 Match Live: When and Where to watch This Interesting Live Streaming

6 July 2024
Bangladesh-Hindu-Violence

Hindus in Bangladesh Demonstrate Against Violence; Muhammad Yunus Reacts

185
11 Well-liked Ramadan Foods from Across the Globe

11 Well-liked Ramadan Foods from Across the Globe

170
PM MODI LECTURE

“Congress dying, Pakistan crying” PM Modi on BJP’s Anti-terrorism Stance

69
New Delhi Live Update

New Delhi Live Update:-After Delhi, Electricity Became Expensive In Tamil Nadu Too. Central Government Increased The Burden Of Electricity Bills On People By 4.83%

22

 CM फडणवीस के साथ टकरार 2025 की सुरुआत मैं ही कांड

22 February 2025
Delhi Live Update 2024

Delhi Live Update 2024:- People of Delhi should replace Arvind Kejriwal as BJP CM Union Minister Harsh Mishra

7 December 2024
Farmers protest live updates 2024

Farmers protest live updates 2024: Farmers protested for a day in March after farmers were injured in gas firing

6 December 2024
PROBA-3 Mission Live Update

PROBA-3 Mission Live Update:- Congratulations! ISRO’s powerful PSLV-C59 rocket launched Proba-3 into Earth’s orbit

5 December 2024
Welcome To Live NDTV

Here you can find dependable and perceptive news coverage. We at LiveNDTV are aware of how important precise information is in the fast-paced world of today. Our goal is very clear: to give you complete, objective, and timely news so you can make wise decisions.

Follow Us

Browse by Category

  • Action
  • Adventure
  • Animation
  • Apple
  • Business
  • Camera
  • Cricket
  • Electronics
  • Entertainment
  • Fashion
  • Food
  • Football
  • Gadget
  • Games
  • Gaming
  • Health
  • History
  • Life style
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • Politics
  • Racing
  • Review
  • Science
  • Security
  • Sports
  • Startup
  • Tech
  • Travel
  • Uncategory
  • Video
  • World

Recent News

 CM फडणवीस के साथ टकरार 2025 की सुरुआत मैं ही कांड

22 February 2025
Delhi Live Update 2024

Delhi Live Update 2024:- People of Delhi should replace Arvind Kejriwal as BJP CM Union Minister Harsh Mishra

7 December 2024
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© Copyright 2023. All Rights Reserved - Live NDTV | Managed & Developed by Suraj Chaudhary

No Result
View All Result

© Copyright 2023. All Rights Reserved - Live NDTV | Managed & Developed by Suraj Chaudhary