RBI cracks down on Kotak Mahindra Bank for non-compliance over IT issues

After examining the lender’s information technology systems in 2022 and 2023, the regulator had flagged several issues. But the bank remained non-compliant.

The Reserve Bank of India has barred Kotak Mahindra Bank, India’s fourth-largest lender by value, from adding new customers through digital channels—online and mobile banking—and issuing new credit cards. The action follows concerns over the bank’s technology systems.

The RBI said the lender had failed to address the issues that the regulator had raised after examining the bank’s information technology systems in 2022 and 2023. 

“Serious deficiencies and non-compliances were observed in the areas of IT inventory management, patch and change management, user access management, vendor risk management, data security and data leak prevention strategy, business continuity and disaster recovery …


Diti Pujara

Diti is a copy editor at The Morning Context. She joins us from Deccan Herald where she oversaw the daily news coverage in the digital vertical as a chief sub-editor. She also managed social media and contributed to data stories and film analysis. Before DH, she was with Reuters as an online producer.

Editor, Explainers