MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on Kotak Mahindra Bank, India’s fourth largest private lender by assets.
On Wednesday the RBI barred Kotak Mahindra Bank from taking on new customers digitally and issuing credit cards, due to information technology-related deficiencies.
Since 2020, the RBI has placed business restrictions on HDFC Bank, India’s largest private lender, Paytm Payments Bank, the banking unit of fintech firm Paytm, and JM Financial, among others. Following are some of the key actions: HDFC BANK
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Factbox-India central bank scrutiny of financial firms leads to restrictions
