Kotak Bank shares in focus as RBI lifts restrictions on opening new bank accounts, credit card issuance
Kotak Mahindra Bank will remain in focus on Thursday, February 13, after the Reserve Bank of India (RBI) lifted its restrictions on the bank regarding issuing new credit cards and opening bank accounts through online or mobile banking channels.
The RBI has lifted the previously imposed restrictions on the bank with immediate effect. Customers can now open a new Kotak Mahindra Bank 811 account via the online and mobile app and apply for the bank’s credit cards.
“The Reserve Bank has decided to lift the aforementioned restrictions placed on Kotak Mahindra Bank Limited,” the RBI said in a press release dated February 12, 2025.
“…The bank initiated remedial measures to address supervisory concerns and submitted compliance reports to the Reserve Bank. The bank also commissioned an external audit, with prior approval from the RBI, to validate the compliance. Having satisfied itself based on the submissions and remedial measures undertaken by the bank, the Reserve Bank has decided to lift the restrictions placed on Kotak Mahindra Bank Limited,” the Central Bank added.
Following the update, various brokerage firms have shared their views on the development. Here’s what they said:
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