News > RBI crack down on Kotak Bank calls to urgently implement DPDP Act

RBI crack down on Kotak Bank calls to urgently implement DPDP Act

Last week RBI barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards following RBI's examination of the bank’s IT systems over the last two years and the bank’s “continued failure” to address concerns. RBI found that the bank is materially deficient in building operational resilience on account of its failure to build IT systems and controls commensurate with its growth.