💨 Abstract

After nine months of restrictions, the Reserve Bank of India (RBI) lifted the "cease and desist" order on Kotak Mahindra Bank (KMB) due to satisfactory remedial measures on technology issues. KMB can now issue new credit cards and onboard new customers through digital channels. The bank undertook a third-party IT audit and implemented various measures to address RBI's concerns.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖