Kotak Bank ban: In the past, the RBI removed restrictions on the issuance of credit cards on HDFC Bank in August 2021, while the restrictions on HDFC Bank’s Digital 2.0 program only got lifted only in March 2022.
India Business News: Shares of Kotak Mahindra Bank dropped by 10% following RBI's temporary pause on new customer onboarding and credit card issuance. Brokerages lowered t
Kotak Mahindra Bank, which is scheduled to report its quarterly results on Saturday, May 4, 2024, said it wants to reassure its existing customers of uninterrupted services.
Kotak Mahindra Bank Share Price: The company's shares dropped 9.7 per cent to 1,665 rupees in pre-open trade, the lowest since March 2023. The shares of banking major are trading 183.05 points, or 9.93 per cent lower at 1,659.75 per equity share on NSE.
Kotak Mahindra Bank s shares plunged 12% to Rs 1,620 after RBI halted new customer onboarding and credit card issuance. Brokerages slashed target prices due to concerns over online channel reliance and potential long-term growth impact.