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What Led To RBI's Restrictions On Kotak Mahindra Bank
At least 30–40 hours of outages on digital banking channels, including the UPI, were reported in a year.
25 Apr 2024, 02:43 PM IST
Lack of resilience in Kotak Mahindra Bank Ltd.'s tech infrastructure, specifically the core banking system, was one of the many fault lines in its digital banking channel, according to four persons with knowledge of the matter. The bank was found lacking in IT risk and information security governance for two consecutive years.On Wednesday, Reserve Bank of India directed the private lender to "cease and desist" the issuances of fresh ...
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