Tata Digital's startup moves; ZestMoney CEO on women in fintech : Tech News rashtranews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rashtranews.com Daily Mail and Mail on Sunday newspapers.
Kotak Mahindra Bank s shares plummeted 4%, hitting a new 52-week low of Rs 1,561 following Joint MD KVS Manian s resignation. Nuvama downgraded the stock from buy to reduce. Earlier, RBI restrictions caused a 10% decline last week.
Kotak Mahindra Bank: The domestic brokerage said that the recent changes shall hurt growth and profit at least for 12–18 months. It has cut target multiple sharply to 1.7 times PBV FY26E from 2.2 times
The Reserve Bank of India (RBI) has imposed strict restrictions on Kotak Mahindra Bank, a third-most valued private bank in India, for failing to fix its IT systems over the past two years. The bank was asked to stop functions cited "with immediate effect" and assured customers that there would be no interruption to services. Kotak Mahindra Bank has taken measures to strengthen its IT systems and will continue to work with the RBI to resolve balance issues at the earliest.