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RBI bars Kotak Mahindra Bank from onboarding new customers through online, mobile banking; issue new credit cards.

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RBI bars Kotak Mahindra Bank from onboarding new customers through online, mobile banking; issue new credit cards.

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this is a welcome move. This is a fraud bank, sends promotional emails with zero fee offers and after issuing card levies the fees. So they deserve it truly.

https://www.moneycontrol.com/news/business/rbi-...

Savings Mentor Savings Mentor
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I am waiting for when SBI card and BOB Card get RBI ka danda. Two most haramkhor companies.

SBI Card ko bahot bade se bada fine lagna chahiye. Main mithai batunga aur Twitter pe unko aisa jalil karunga. Sarkari Badmash of India hai woh card company

Benevolent Benevolent
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What's the duration of the ban ?

Finance Ninja Finance Ninja
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@Gulag-Survivor "Until Kotak Bank improves its IT and security infrastructure and submits the report to RBI, the RBI will conduct another test and audit. If they are satisfied with the report, then the ban will be revoked. The timeline for the revocation of the ban depends on how quickly Kotak Bank completes the required improvements and submits the report to RBI."
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Upgrading of CC will be open.. right ?

Comrade Comrade
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अच्छा हुआ मेरा 3 साल पुराना 811 चालू कर दिया वर्ना मेरा क्या होता. कहीं इस वज़ह से तो RBI नाराज नहीं हो गया?

Deal Newbie Deal Newbie
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3 saal purana kaise chalu kar diya? joy

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Generous Generous
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-accha hua , maha Chu bank tha 

-airport lounges ke liye condition, not LTF card beside kotak leugue, faltu rewards system,no offers

-one time i raised request to convert my kotak leugue VISA card to Rupay they told to apply fresh rather then swap , then rejected my application just bcoz i raised matter - i again raised the matter that if Kotak legue VISA is approved for current customer then How Kotak leugue RUPAy be declined all in the curtain of 'internal policy'

-and daily they send mail to 'upgrade ' my LTF card to PAID zen card just for airport lounges, airport lounges are free even on my SBI debit card ,unka 811 bhi scam hai ,aise faltu Kotak bank ko to band ho jana chahiiye 

Kotak=ChoTak

Crusader Crusader
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Which sbi dc offers free lounge access bro?

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Community Angel Community Angel
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Agla number kiska hai 

Deal Cadet Deal Cadet
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Indusind ka hona chahiye.

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Deal Newbie Deal Newbie
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So is it not safe to keep money in this bank anymore? Sorry I am new to this. i just opened my first account and i chose this bank 😓

Crusader Crusader
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Existing customers are not affected..

But don't keep a hefty amount in kotak bank

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Deal Newbie Deal Newbie
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Thank You 🙏

Deal Subedar Deal Subedar
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NSE4920332024-04-2708-04-08


broke multi year saapooort. juice incoming?

Benevolent Benevolent
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Jab Fati to bola "Hajmola" laughing

I received this email point_down a few minutes back.

Letter from MD & CEO of Kotak Mahindra Bank

Dear Valued Customer,

Amid recent updates regarding the RBI’s directive to the Bank, I want to reassure you of our services and address any concerns that may have arisen.

I wish to emphasize that our operations continue uninterrupted for all existing customers across all our channels. You continue to have access to all your existing banking services including branches, bank accounts, Credit/Debit Cards, ATMs, Mobile and Net Banking facilities. However, we have temporarily paused the issuance of new Credit Cards.

Rest assured, we are actively working to address the concerns raised and are in constant communication with the regulator to resolve any issues promptly.

Lastly, we extend our heartfelt gratitude for your continued trust in Kotak. We hold ourselves to the highest standards and remain dedicated to serving you with excellence.

Should you have any additional questions or concerns, please do not hesitate to reach out to us.

Best,
Ashok Vaswani
MD & CEO
Deal Lieutenant Deal Lieutenant
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Bete ki shaadi me Andhadhund paise udaya. Customer ka katke , moj kar raha tha.
Acha kiya RBI ne.
It proves that RBI is in good hands.
And govt. Will not spare any rule breakers, despite receiving bonds. Ab sab chup hain. no_mouth.
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Deal Newbie Deal Newbie
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But shares down

Deal Newbie Deal Newbie
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Not a big issue   similar happened with big banks earlier. 

Benevolent Benevolent
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Dear RBI, 

Kudos to you!!I must bring it to your immediate attention that Ax$hit Bank is also seeking your Slap/Danda/Bamboo badly.Ever since it acquired Citi's consumer business in India, Ax$h!t bank has been bullying and harassing customers.Kindly consider providing your Danda / Bamboo to Ax$h!t Bank as well, so that it can improve its service.

Thanks and Regards 

Generous Generous
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Hdfc icici sbi baki sab ko ban kar de.. ye log shatir gamr khelte hain.. kotak ka to accha hua.. maine month pahle everyday 0 balance acc open kiya.. is month mail aaya ab apko 20k nahi 15k amb karna hai.. main to 0 kqr raha tha with 30 upi transfer now that offer excluded

Deal Lieutenant Deal Lieutenant
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First of all... They should ban the mobile app of Kotak Bank.

This app is literally shit sweat

Generous Generous
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They don't even let me use that shit for than 1 minute

After opening app within 1 min they show big list of apps that i should uninstall to use kotak app
Sab kuch jaldi jaldi karna padta hai before error joy joy

Baki sab banks ki apps chal rhi hai inko hi jyada nakhre hai

Deal Newbie Deal Newbie
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I wonder why this dude copy pastes everything instead of simply posting a credible link & doesn't even mention the source

Helpful Helpful
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Ache bache bado k sath shalinta se rahte hai jyda baate nhi puchte.....aynee😜

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Savings Mentor Savings Mentor
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I am waiting for when SBI card and BOB Card get RBI ka danda. Two most haramkhor companies.

SBI Card ko bahot bade se bada fine lagna chahiye. Main mithai batunga aur Twitter pe unko aisa jalil karunga. Sarkari Badmash of India hai woh card company

Benevolent Benevolent
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SBI card is a different company 

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Savings Mentor Savings Mentor
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Should've taken that Kotak Myntra on RuPay fast and closed UPI RuPay. Since already have Zen Signature Visa and League RuPay as well. Now will have to wait till eternity.

Deal Newbie Deal Newbie
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How many kotak cards can we ve ?

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Deal Cadet Deal Cadet
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This thread was posted before
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Deal Cadet Deal Cadet
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Benevolent Benevolent
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Bhai ye  GSYTU (German Shepherd YouTube University) wala bataya kya? 🤪😆

Lol what has electoral bonds got to do with the RBI's crackdown on Kotak (a bank that violated RBIs guidelines)? 🤭

RBI has taken action against Bank of Baroda, Paytm Payments Bank, Bajaj Finance, HDFC Bank, Mahindra & Mahindra Financial Services etc.A Few Banks and Fintech banned are Federal Bank and South Indian Bank Stopped Onboarding New Customers for Co-Branded Credit Cards Basis RBI Guidelines including SBM Bank India Ltd.

w46g35467376

https://www.business-standard.com/companies/new...

Protection of consumer interest is one of the core guiding principles of the RBI & we should appreciate the RBI's efforts to protect consumer interests instead of making nonsensical & baseless accusations.
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Deal Cadet Deal Cadet
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Helpful Helpful
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Why are you spamming same comment on every thread..

RBI Did this to many banks in the past..like hdfc, amex, etc..

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Deal Hunter Deal Hunter
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Meanwhile chorxis after hearing ban on Lotak

munsonated

Helpful Helpful
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kuch mat bolo, abhi chot axis aur clean citi dono couple ho chuke hai, accounts saaf dikhane ke liye
Deal Lieutenant Deal Lieutenant
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Keep sending sms grin

I will keep forwarding it to RBI grin

Comrade Comrade
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Truely deserved

Deal Brigadier Deal Brigadier
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tit for tat ✓ Logo ke ac debit freeze kar rahe they rbi ne Inka hi kar diya 🤣

Pro Entertainer Pro Entertainer
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Mere bhai ka account debit freeze kiya hua hai, branch visit kar karke pareshaan ho gaya.

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Deal Newbie Deal Newbie
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@mrkool_jj @bubbleboychickenlittle @bikidas2060 How much gap down are you expecting?
(And if already sitting on shorts,, then, how much are you hoping?😄)
Deal Hunter Deal Hunter
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Lotak wale loot gaya ? 

Deal Cadet Deal Cadet
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left right sab jagh se
Freebie Finder Freebie Finder
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Last Week Received Credit Card, in 2 months old account 😄 haha

Deal Newbie Deal Newbie
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Today only i asked about myntra card

Thought of applying

How many days this restriction?

Generous Generous
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Abhi apply karke dekh lo kya pta process ho jaye as din me khabar aayi hai to maybe kal se apply hogi new terms ya full notification check karlo

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Generous Generous
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Yes they truly deserved for fake marketting

replyuser
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