RBI Lifts Ban on Kotak Mahindra Bank, Allows Issuance of New Credit Cards and Online Customer Onboarding

[TechnoFinoTechnoFino is verified member.]

The Reserve Bank of India (RBI) has lifted the restrictions imposed on Kotak Mahindra Bank, allowing it to resume issuing new credit cards and onboarding customers through online and mobile banking channels. The bank was directed to halt these services in April 2024 after the RBI identified significant concerns in its IT systems during examinations conducted in 2022 and 2023. The restrictions were imposed shortly after Ashok Vaswani assumed the role of managing director and CEO on January 1, 2024.

Kotak Mahindra Bank can now issue new credit cards and upgrade existing ones to higher variants on demand. Are you looking to acquire a credit card from Kotak? If yes, which one are you aiming for?

 

[am11]

https://www.moneycontrol.com/news/business/rbi-removes-restrictions-on-kotak-mahindra-bank-onboarding-customers-online-12938648.html

Reserve Bank of India on February 12 lifted restrictions on Kotak Mahindra Bank that had barred the lender from onboarding new customers through its online channels and issuing new credit cards

 

[maverick]

Also march rush is about to come...they will come aggressively(LTF offers) to acquire new customer.

 

[InfamousInfamous is verified member.]

Which card to bag asap?

 

[2025]

They should bring back their Grocery CC or something like SBI Cashback or Wallet load wala card.

I think they got the hints earlier that's why they changed the T&C for 811 Super cashback eligibility.

 

[Dreams Of Desire 💓]

Paytm ka bhi kuch kardo🥹🥹

 

[am11]

Which card to bag asap?

Is Kotak Myntra still good?

 

[am11]

Paytm ka bhi kuch kardo🥹🥹

They will try to make a comeback apparently...

https://www.livemint.com/industry/banking/we-have-learnt-our-lessons-vijay-shekhar-sharma-expects-paytm-payments-bank-to-get-back-into-business-soon-11737470561228.html

 

[Sahil_07]

Need a cashback card from Kotak

 

[VasukiVasuki is verified member.]

Which card to bag asap?

White 🤍 .

 

[AlooDum]

Finally time to apply my first Kotak card😂

 

[shu_sha]

Got a call from Kotak
Didn't picked up though

I assume they might have called me for the card upgrade 🤣

 

[SSV]

Is Kotak Myntra still good?

Okay, okay .. not that great now

 

[kuchbhikuchbhi is verified member.]

finalyyyy ab koi badhia sa LTF card dilwao bhailog

 

[AlgoTrader]

Finally, my long wait to get kotak cc might be over, but will wait for a while to get a better offer

 

[am11]

Probably it would be wise to wait for sometime before applying for a new Kotak card. They have had a good long time to ponder over their product offerings. So they may be ready for new launches now.

 

[Rwrd-Lutera]

Time to get White Reserve credit card LTF.

 

[EverybodyEverybody is verified member.]

Time to get White Reserve credit card LTF.

as if they give.

 

[SreeU]

I have been using kotak 811 a/c for my UPI transactions. Which CC would be good?

 

[alpha2betaa]

I came here just to know which is the best Kotak card which is offered LTF 😅