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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The RBI’s ban has dealt a body blow to India’s fourth largest private sector lender. The implications go beyond just the numbers.
Imagine getting swindled while trying to open an account through a bank’s official website. The incident played out last week, according to a post shared by a user on X (formerly Twitter), who allegedly lost Rs 10,000 to the fraud. The bank in question is Kotak Mahindra Bank, the country’s fourth largest private sector lender by assets. And while the bank initiated a refund on Thursday, this obviously goes beyond just one user.
With nearly 50 million customers, almost 2,000 branches and over 3,000 ATMs, one would expect Kotak Mahindra Bank to have a top-notch information technology set-up. But it …
Divergent narratives from the Haryana government and the lender raise deeper questions on oversight, authorizations and systemic lapses—answers that may emerge only after a forensic audit.
The Bengaluru-based lender is once again gearing up to seek the RBI’s nod after the central bank returned its application last year.
The Kerala-based bank has been chasing costly and risky bulk term deposits amid tanking profitability.
