Kotak Mahindra Bank Investors are disappointed

RBI has stopped Kotak Mahindra Bank to onboard New customers through Online application also not allowed to issue new C Card, through they can service existing customers.

Will Kotak Mahindra Bank to see de-rating post RBI action?

Brokerage firm Macquarie has called Reserve Bank of India’s actions of private lender Kotak Mahindra Bank Ltd., “a significant setback.” The firm expects a medium-term de-rating for Kotak Mahindra Bank, similar to HDFC Bank’s de-rating that took place after the regulator’s actions on India’s largest private lender in 2020.

Further, the bank assured that existing customers will have no impact on services. ” We want to reassure our existing customers of uninterrupted services, including credit card, mobile and net banking. Our branches continue to welcome and onboard new customers, providing them with all the Bank’s services, apart from issuance of new credit cards,” the bank said.