Can Kotak Mahindra Bank restore lost reputation, valuation and customer trust?

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 …


Furquan Moharkan

Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.

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