Kotak Mahindra Bank

How a faltering Kotak Mahindra Bank exposes pitfalls of India’s tech ambition

On Thursday evening, a glitch in ICICI Bank Ltd.’s app exposed data on about 17,000 new credit card customers. State lender Union Bank of India Ltd.’s customers recently aired similar grievances on social media, including an inability to use the bank’s app, netbanking or UPI for transactions for several hours. In 2020, HDFC Bank Ltd. was punished by the RBI after outages in its digital banking offerings.

26 April 2024, 09:22 IST

How a faltering Kotak Mahindra Bank exposes pitfalls of India’s tech ambition

26 April 2024, 09:22 IST

Kotak Mahindra Bank actively working to address RBI's concerns: CEO

Immediately after the RBI action, the bank had on Wednesday said it has taken measures for the adoption of new technologies to strengthen its IT systems and will continue to work with the apex bank to swiftly resolve balance issues at the earliest.

25 April 2024, 15:55 IST

Kotak Mahindra Bank actively working to address RBI's concerns: CEO

25 April 2024, 15:55 IST

Explained | Why RBI barred Kotak Mahindra Bank from onboarding new customers, issuing credit cards

RBI issued a statement which said that 'significant concerns' arose out of its IT department's examination of the bank since 2022.

25 April 2024, 11:13 IST

Explained | Why RBI barred Kotak Mahindra Bank from onboarding new customers, issuing credit cards

25 April 2024, 11:13 IST

Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action

Cracking down on repeated non-compliance of IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found 'serious deficiencies' in the lender's IT risk management.

25 April 2024, 06:00 IST

Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action

25 April 2024, 06:00 IST

RBI bars Kotak Mahindra Bank from onboarding new customers via mobile and online channels, issue fresh credit cards

These actions, the RBI said, are necessitated 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.

24 April 2024, 10:47 IST

RBI bars Kotak Mahindra Bank from onboarding new customers via mobile and online channels, issue fresh credit cards

24 April 2024, 10:47 IST

Kotak Mahindra customers face troubles as bank servers get impacted

The lender's customers started facing difficulties in completing transactions like UPI payments, money withdrawals, and also accessing online banking in the morning and took to social media to voice their issues.

15 April 2024, 16:39 IST

Kotak Mahindra customers face troubles as bank servers get impacted

15 April 2024, 16:39 IST

Kotak Q3 net profit rises 6.75% to Rs 4,265 crore; bank flags deposits as challenge

The bank's newly appointed Managing Director and Chief Executive Ashok Vaswani said the bank is in great shape, but the challenge before him now is to identify the particular area that can help it grow faster, and make the bank's size bigger.

20 January 2024, 14:32 IST

Kotak Q3 net profit rises 6.75% to Rs 4,265 crore; bank flags deposits as challenge

20 January 2024, 14:32 IST

Kotak Mahindra Bank net profit rises 6.75% to Rs 4,265 cr in Q3

On a standalone basis, the private sector lender's profit after tax rose to Rs 3,005.01 crore from Rs 2,791.88 crore in the year-ago period, but was lower than the preceding September quarter's Rs 3,190.97 crore.

20 January 2024, 08:28 IST

Kotak Mahindra Bank net profit rises 6.75% to Rs 4,265 cr in Q3

20 January 2024, 08:28 IST

Veteran banker Ashok Vaswani assumes charge as Kotak Mahindra Bank's MD, CEO

'Ashok Vaswani has assumed the office as the Managing Director & CEO of the Bank, with effect from January 1, 2024,' Kotak Mahindra Bank said in a regulatory filing.

01 January 2024, 11:01 IST

Veteran banker Ashok Vaswani assumes charge as Kotak Mahindra Bank's MD, CEO

01 January 2024, 11:01 IST

C S Rajan appointed as chairman of Kotak Mahindra Bank

Rajan's appointment which was confirmed by the RBI follows the retirement of incumbent Prakash Apte, whose term ends on December 31.

27 December 2023, 14:26 IST

C S Rajan appointed as chairman of Kotak Mahindra Bank

27 December 2023, 14:26 IST