Overview

• The RBI's decision follows significant IT and security lapses identified during inspections in 2022 and 2023.
• Existing customers will not be affected by these restrictions and can continue using their services without interruption.
• The bank faces challenges in customer acquisition as most of its new customers are onboarded online.
• An external audit must be completed, with RBI approval, before the restrictions can be reconsidered.
• Frequent outages in Kotak Mahindra Bank's digital channels have raised concerns about its operational resilience.